AdCare Health Systems Inc Announces Public Offering of Series A Preferred Stock

AdCare Health Systems Inc announced that it has commenced an underwritten public offering of a new series of its preferred stock, to be designated as its 10.875% Series A Cumulative Redeemable Preferred Stock. The Company has filed an application to list the Series A Preferred Stock on the NYSE MKT. MLV & Co. LLC, GVC Capital LLC and Ladenburg Thalmann & Co. Inc. are acting as underwriters to offer and sell the Series A Preferred Stock. MLV will be acting as Sole Book-Running Manager for the offering. GVC Capital and Ladenburg will be acting as Co-Managers. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes, which may include the repayment of certain indebtedness.