Addus HomeCare Corp. launched a public offering of 2 million common shares, and it said certain stockholders are also selling 500,000 shares of the company.
The Frisco, Texas-based home care services company plans to grant underwriters a 30-day option to buy up to 300,000 additional common shares. The selling stockholders — which are funds affiliated with Eos Partners — also plan to grant underwriters a 30-day option to buy up to 75,000 additional shares.
Addus will not receive proceeds from the sale of common shares by the selling stockholders.
Jefferies LLC, RBC Capital Markets LLC and Raymond James & Associates Inc. are acting as joint book-running managers for the offering, while Robert W. Baird & Co. Inc., Oppenheimer & Co. Inc., Stephens Inc., William Blair & Co. LLC, BMO Capital Markets Corp., and Sidoti & Co. LLC are acting as co-managers.
Addus HomeCare provides personal care services to the elderly, chronically ill and disabled.
In August, the company acquired hospice service provider Hospice Partners of America LLC for $118.4 million in cash.
