US Physical Therapy (USPH) to offer $150 million in common stock
U.S. Physical Therapy, Inc. (USPH) announced that it has commenced an underwritten public offering of $150,000,000 of shares of common stock. The Company has granted the underwriters an option to purchase up to an additional $22,500,000 of shares of common stock from the Company.
U.S. Physical Therapy intends to use the net proceeds of this offering for repayment of a portion of its indebtedness outstanding under its revolving credit facility, and for general corporate purposes, including future acquisitions and other capital expenditures, as well as funding working capital and paying dividends.
BofA Securities and J.P. Morgan are acting as joint lead bookrunners for the offering, and Jefferies is acting as bookrunner. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.
This story originally appeared on Investing
