Almost Family Announces Proposed Offering of 2,500,000 Shares of Common Stock
January 17 2017 - 4:41PM
Almost Family, Inc. (NASDAQ:AFAM) today announced a proposed
underwritten public offering of 2,500,000 shares of its common
stock.
Almost Family intends to use the net proceeds from the offering
to repay outstanding indebtedness under its revolving credit
facility. In connection with the offering, Almost Family intends to
grant the underwriters a 30-day option to purchase up to an
additional 375,000 shares of its common stock.
J.P. Morgan Securities LLC and BofA Merrill Lynch will act as
joint book‑running managers for the offering. Capital One
Securities, Inc., Fifth Third Securities, Inc. and Regions
Securities LLC will act as co-managers for the offering. The
offering is being made pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission
(“SEC”). The offering will be made only by means of a prospectus
supplement and the accompanying base prospectus, copies of which
may be obtained by contacting (i) J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewater,
NY 11717, or telephone: 866-803-9204 or (ii) BofA Merrill Lynch,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte
NC 28255-0001, Attn: Prospectus Department, or Email:
dg.prospectus_requests@baml.com. These documents will also be filed
with the SEC and will be available at the SEC’s website at
http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful before registration or qualification under the
securities laws of any such state or jurisdiction.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including statements
related to the offering and the expected use of the net proceeds.
These forward-looking statements are based on current plans,
expectations, projections, forecasts and assumptions about future
events that involve risks and uncertainties that could cause actual
outcomes and results to differ materially. Forward-looking
statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In
some cases, you can identify forward-looking statements by the use
of forward-looking terminology such as “may,” “will,” “should,”
“could,” “would,” “estimate,” “project,” “forecast,” “intend,”
“expect,” “plan,” “anticipate,” “believe,” “target,” or similar
terms, variations of those terms or the negative of those terms.
While forward-looking statements reflect good faith beliefs,
assumptions and expectations, they are not guarantees of future
performance, and the Company undertakes no obligation to update or
revise its forward-looking statements. The forward-looking
statements in this news release are based on a variety of
assumptions that may not be realized and that are subject to
significant risks and uncertainties, including that the offering
may not be completed. For a more complete discussion regarding
other factors which could affect the Company's financial
performance, refer to the Company's various filings with the
Securities and Exchange Commission, including its filing on Form
10-K for the year ended January 1, 2016, in particular information
under the headings "Special Caution Regarding Forward-Looking
Statements" and “Risk Factors.”
About Almost Family, Inc.
Almost Family, Inc., founded in 1976, is a leading national
provider of home healthcare services, with 340 branch locations in
26 states, following the completion of its joint venture
transaction with Community Health Systems, Inc. (CHS) (NYSE:CYH).
Almost Family, Inc. and its subsidiaries operate a visiting nurse
segment, a personal care segment and a HealthCare Innovations
segment. CHS Home Health, the joint venture with CHS, is one of the
nation’s larger Medicare home health care providers with 74 home
health and 15 hospice locations in 22 states. Most of its home
health and hospice operations are affiliated with CHS general acute
care hospitals in communities across the country. The JV is managed
by Almost Family, governed by a board with proportionate
representation from Almost Family and CHS and is primarily focused
on serving the post-acute home health needs of the current CHS
locations while also developing additional home health capabilities
in communities with a CHS hospital but no affiliated home
healthcare.
Almost Family, Inc.
Steve Guenthner
(502) 891-1000
Community Health Systems (NYSE:CYH)
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