Proceeds from the offering are expected to be approximately $93 million and will be used to repay some or all of Adeptus’ outstanding debts. Any remaining proceeds will go to general corporate purpose including facility expansion efforts, according to the company. The offering is expected to close June 30.
Adeptus and the selling stockholder, a Sterling Partners affiliate, have granted the underwriters an option to purchase up to 735,000 additional shares of Class A common stock, until July 24. If the shares are purchased, Adeptus will use the proceeds to purchase an equivalent number of LLC interests in Adeptus Health LLC, a subsidiary of Adeptus, from another affiliate of Sterling Partners.
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