AHCO - Why AdaptHealth Shares Are Blasting Higher Today
Home medical equipment (HME) specialist AdaptHealth (NASDAQ: AHCO) was up a robust 12% in mid-afternoon trading Wednesday. This followed a company announcement about the details of a new funding source for its big acquisition.
AdaptHealth priced its previously announced secondary issue of common stock. All told, 8 million shares of the company will be floated at a price of $33 per share. A total of 7.25 million of those shares will be sold by the company itself, with the remainder coming from selling stockholders. The issue's underwriters also have a 30-day option to purchase up to an extra 1.2 million shares. The issue is expected to close this Friday, Jan. 8.
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Why AdaptHealth Shares Are Blasting Higher Today