AdaptHealth proposes $300M offering
By HME News Staff
Updated Wed July 15, 2020
PLYMOUTH MEETING, Pa. - AdaptHealth announced July 14 that it has commenced an offering of $300 million aggregate principal amount of senior notes due 2028. The company plans to use the net proceeds from the offering to repay certain of its existing senior secured indebtedness, and pay related fees and expenses. The senior notes and related guarantees are being offered only to investors who are reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration set forth in the Securities Act. On July 1, AdaptHealth announced the upsizing and pricing of its previously announced underwritten public offering of 8 million shares of its Class A Common Stock at a price to the public of $15.50 per share. The gross proceeds, before deducting the underwriting discounts and commissions and estimated offering expenses, were expected to be about $124 million.
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