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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, April 19, 8:59 AM
Slide #369. AdCare Health Systems, Inc. — Preferred Stock Offering
| Company: |
AdCare Health Systems, Inc. (ADK) |
| Date announced: |
5/28/2015 |
| Security type: |
10.875% Series A Cumulative Redeemable Preferred Stock (ADK.PRA) |
| Shares Offered: |
588,235 |
| Date of Pricing: |
5/28/2015 |
| Price Per Share: |
$25.50 |
| Preferred Stock Offering Details: |
AdCare Health Systems, Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA) (the "Company") today announced that it has commenced a public offering of up to 400,000 shares of its 10.875% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"). The Company's current outstanding Series A Preferred Stock is listed on the NYSE MKT under the symbol "ADK.PRA," and the Company will file an application to list the shares of the Series A Preferred Stock to be sold in the offering on the NYSE MKT under the same symbol. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of debt, working capital or the funding of potential acquisitions. - updated 5/29 - AdCare Health Systems, Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA) (the "Company") announced today that it has priced a public offering of up to 588,235 shares of its 10.875% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a public offering price of $25.50 per share. The closing of the offering is scheduled for June 2, 2015, subject to customary closing conditions. The Company's current outstanding Series A Preferred Stock is listed on the NYSE MKT under the symbol "ADK.PRA", and the Company has filed an application to list the shares of the Series A Preferred Stock to be sold in the offering on the NYSE MKT under the same symbol. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of debt, working capital or the funding of potential acquisitions. |
AdCare Health Systems, through its subsidiaries, is a self-managed real estate investment company that invests primarily in real estate purposed for long-term care and senior living. Co.'s business primarily consists of leasing and subleasing such facilities to third-party tenants, which operate the facilities. As of Dec 31 2016, Co. owned, leased, or managed for third parties 29 facilities primarily in the Southeast. Co.'s facilities provide a range of healthcare and related services to patients and residents, including skilled nursing and assisted living services, social services, and other rehabilitative and healthcare services for both long-term and short-stay patients and residents. Preferred: ADK.PRA
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