AdCare Health (ADK) Completes 1.1M Common Offering at $3.75/Share
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AdCare Health Systems, Inc. (AMEX: ADK) has completed its previously announced firm commitment underwritten offering of 1,100,000 shares of AdCare's common stock at a price per share to the public of $3.75, for an aggregate offering amount of approximately $4.1 million. The net proceeds from the offering, after underwriting discounts and commissions and other offering expenses, are approximately $3.7 million. AdCare intends to use the net proceeds from the offering for working capital and other general corporate purposes.
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