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Addus HomeCare Corporation Prices Initial Public Offering

PALATINE, Ill., Oct. 27 /PRNewswire-FirstCall/ -- Addus HomeCare Corporation announced today that it has priced the initial public offering of 5,400,000 shares of its common stock at $10.00 per share. Addus shares will begin trading on October 28, 2009 on the Nasdaq Global Market under the ticker symbol "ADUS". The closing of the offering is scheduled to take place on November 2, 2009. Addus expects to receive net proceeds from the offering, after deducting the underwriting discount and estimated offering expenses, of approximately $50.2 million.

Addus has granted the underwriters a 30-day option to purchase up to an additional 810,000 shares to cover over-allotments, if any.

Robert W. Baird & Co. and Oppenheimer & Co. acted as joint book-running managers, and Stephens Inc. acted as co-manager. The shares of common stock are being offered only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained for free by visiting the Securities and Exchange Commission website at Alternatively, you may obtain a copy of the final prospectus by contacting Robert W. Baird & Co. Incorporated, 777 East Wisconsin Avenue, Milwaukee, WI 53202, or by telephone at (800) 792-2473 or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 300 Madison Avenue, 4th Floor, New York, NY 10017, by telephone at (212) 667-8563, or via email at

A registration statement relating to shares of the common stock of Addus has been filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy shares of common stock of Addus, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Addus

Addus is a comprehensive provider of a broad range of social and medical services in the home. Addus' services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Addus' consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Addus' payor clients include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals. Addus has over 12,000 employees that provide services through more than 120 locations across 16 states to over 23,000 consumers.

    Investor Contact:
    Carol Ruth / Amy Glynn
    The Ruth Group
    Phone:  (646) 536-7004 / 7023

    Media Contact:
    Jason Rando
    The Ruth Group
    Phone:  (646) 536-7025

SOURCE Addus HomeCare

SOURCE Addus HomeCare
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