03:52 AM EDT, 10/03/2024 (MT Newswires) -- Pennant Group ( PNTG ) said late Wednesday it priced an underwritten public offering of 3.5 million common shares at $31 per share for expected gross proceeds of $108.5 million.

The company granted the underwriters a 30-day option to buy up to an additional 525,000 shares. The offering is expected to close around Friday.

The company said it expects to use net proceeds to repay outstanding debt under its revolving credit facility and for general corporate purposes.