Addus HomeCare Commences Proposed Public Offering Of 1.50M Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
Addus HomeCare has announced a public offering of 1.50 million shares of its common stock, with an option for underwriters to purchase an additional 225,000 shares. The proceeds will be used to repay debt and for general corporate purposes, including acquisitions.
June 26, 2024 | 8:02 pm
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Addus HomeCare is offering 1.50 million shares of its common stock, with an option for underwriters to purchase an additional 225,000 shares. The proceeds will be used to repay debt and for general corporate purposes, including acquisitions.
The issuance of new shares typically dilutes existing shareholders' equity, which can lead to a short-term decrease in stock price. However, the use of proceeds to repay debt and fund acquisitions could be beneficial in the long term.
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