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AdaptHealth looks to raise $500M 

AdaptHealth looks to raise $500M 

PLYMOUTH MEETING, Pa. – AdaptHealth has launched a $500 million offering of aggregate principal amount of senior notes due 2029. 

The gross proceeds from the offering will be deposited into a segregated escrow account pending completion of the company’s previously announced acquisition of AeroCare Holdings. At the closing of the acquisition, the net proceeds from the offering will be released from escrow and, together with term loan borrowings and cash on hand, will be used to finance the cash portion of the consideration for the AeroCare acquisition and to pay related fees and expenses. 

The gross proceeds from the offering will replace the outstanding bridge commitment in place with Jefferies Finance, in connection with funding the AeroCare acquisition. 

The AeroCare acquisition is expected to close in the first quarter of 2021. If it’s not completed by May 31, the issuer will be required to redeem the senior notes at a redemption price equal to 100% of the principal amount of the senior notes, plus accrued and unpaid interest. 


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