RTTNews | Jan 6, 2021 09:58AM EST

09:57 Wednesday, January 6, 2021 (RTTNews.com) - Shares of home healthcare equipment provider AdaptHealth Corp. (AHCO) are rising more than 10% Wednesday morning at $37.28, close to its 52 week high of $39.76.

Tuesday, AdaptHealth priced the stock offering of 8 million shares of its Class A Common Stock, at $33.00 per share.

The offering consists of 7.25 million shares of Class A Common Stock being sold by the Company and an additional 750,000 shares of the Company's Class A Common Stock being sold by a selling stockholder.

The company plans to use half of the gross proceeds from the offering to finance the its previously announced acquisition of AeroCare Holding and the rest for general corporate purposes.

The gross proceeds from the offering are expected to be about $239.25 million and it will not receive any proceeds from the sale of Class A Common Stock by the selling stockholder.

Read the original article on RTTNews ( https://www.rttnews.com/3158192/stock-alert-adapthealth-near-its-52-week-high.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved