04:36 PM EDT, 06/26/2024 (MT Newswires) -- Addus HomeCare ( ADUS ) said late Wednesday that it has commenced an offering of 1.5 million shares, with BofA Securities and Jefferies as book-running managers.

The company expects to grant the underwriters a 30-day option to purchase up to 225,000 additional shares in the offering.

Addus said it plans to use about $81.4 million of the net proceeds for debt repayment and for general corporate purposes.

The stock was down more than 3% in extended trading.

Price: 114.86, Change: -4.66, Percent Change: -3.90