AdaptHealth raises capital

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Tuesday, June 30, 2020

PLYMOUTH MEETING, Pa. – AdaptHealth has commenced a public offering of 6.5 million shares of its Class A common stock, subject to market and other conditions. In conjunction with the offering, the company intends to grant to the underwriters a 30-day option to purchase up to 975,000 additional shares of Class A common stock. AdaptHealth plans to use the net proceeds from the offering for general corporate purposes, including acquisitions and other business opportunities, capital expenditures and working capital. The closing of the company’s previously announced acquisitions of Solara Medical Supplies and ActivStyle Holdings are not dependent on the offering, and the offering is not dependent on the closing of the acquisitions. At press time, AdaptHealth was trading at $15.94 per share.