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Addus HomeCare Prices IPO At $10 Per Share, Below Estimated Range - Quick Facts

Posted on: Tue, 27 Oct 2009 22:20:00 EDT

Symbols: ADUS

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(RTTNews) - Addus HomeCare Corp., a provider of a broad range of social and medical services in the home, announced that it has priced the initial public offering of 5.40 million common shares at $10 per share. It is to be noted that, in a recent filing with the regulatory, Addus HomeCare disclosed that it expects to price the offering between $11 and $13 per share.

Addus said its shares will begin trading on October 28, 2009 on the Nasdaq Global Market under the ticker symbol "ADUS". The company said it has scheduled the closing of the offering to take place on November 2, 2009. Addus expects to receive net proceeds from the offering, after deducting the underwriting discount and estimated offering expenses, of about $50.2 million.

Addus said it has granted the underwriters a 30-day option to purchase up to an additional 810 thousand shares to cover over-allotments, if any.

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