Almost Family Announces Pricing of Upsized Offering of 3,000,000 Shares of Common Stock
January 19 2017 - 8:12PM
Almost Family, Inc. (NASDAQ:AFAM) today announced that it has
priced its upsized underwritten public offering of 3,000,000 shares
of its common stock at a price of $44.50 per share. The net
proceeds from the offering will be approximately $125,490,000,
after estimated issuance discounts and commissions. Almost Family
intends to use the net proceeds from the offering to repay
outstanding indebtedness under its revolving credit facility
borrowed to fund its recent acquisition. In addition, Almost Family
has granted the underwriters a 30-day option to purchase up to an
additional 450,000 shares of its common stock.
J.P. Morgan Securities LLC and BofA Merrill Lynch
are acting as joint book‑running managers for the offering. Capital
One Securities, Inc., Fifth Third Securities, Inc. and Regions
Securities LLC are acting 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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