AdaptHealth Corp. Completes $142 Million Common Stock Public Offering and $350 Million Senior Notes Offering

August 7, 2020

Willkie advised AdaptHealth Corp. in the transactions.

On July 6, Willkie client AdaptHealth Corp. completed an underwritten public offering of 9,200,000 shares of its common stock at a price to the public of $15.50 per share, which included the exercise in full of the underwriters’ option to purchase 1,200,000 additional shares in the offering. Jefferies LLC, Deutsche Bank Securities Inc. and UBS Investment Bank served as joint book-running managers in the offering.

In addition, on July 29, AdaptHealth LLC completed a Rule 144A/Regulation S offering of $350 million aggregate principal amount of 6.125% Senior Notes due 2028. J.P. Morgan Securities LLC, RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc., Citizens Capital Markets, Inc., Deutsche Bank Securities, Inc., Regions Securities LLC, Fifth Third Securities, Inc., Jefferies LLC and KeyBanc Capital Markets Inc. served as joint book-running managers in the offering.

AdaptHealth is a leading provider of home healthcare equipment, medical supplies to the home and related services in the United States. AdaptHealth provides a full suite of medical products and solutions designed to help patients manage chronic conditions in the home, adapt to life and thrive. AdaptHealth services beneficiaries of Medicare, Medicaid and commercial insurance payors. AdaptHealth services over approximately 1.7 million patients annually in all 50 states through its network of 247 locations in 40 states.

The offerings were handled by partners Danielle Scalzo and Michael Brandt, and associates Marisa Weisbaum and Gabrielle Young. Partners Cristopher Greer and Jason Pearl also assisted on the bond offering.