American Dental Partners Announces Common Stock Offering
18 August 2009 - 10:06PM
Marketwired
American Dental Partners, Inc. (NASDAQ: ADPI) announced today that
it has commenced a public offering of 2,260,000 shares of common
stock. American Dental Partners will grant the underwriter in the
offering an option to purchase up to 339,000 additional shares of
common stock at the same price per share to cover any
over-allotments.
American Dental Partners expects to use the net proceeds from
the offering for repayment of outstanding indebtedness and other
general and working capital purposes.
Robert W. Baird & Co. will act as the sole underwriter for
the offering. The offering is being made only by means of a
prospectus and related prospectus supplement, copies of which may
be obtained upon request to Robert W. Baird & Co. Incorporated,
777 East Wisconsin Avenue, Galleria Level, Milwaukee, Wisconsin
53202-5391, or by calling 1-800-792-2413. Copies of the prospectus
and prospectus supplement are also available on the Securities and
Exchange Commission website at www.sec.gov.
The shares are being offered pursuant to an effective
registration statement. This press release does not constitute an
offer to sell these securities or a solicitation of an offer to buy
these securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
American Dental Partners is one of the nation's leading business
partners to dental group practices. The Company is affiliated with
26 dental group practices which have 242 dental facilities with
approximately 2,131 operatories located in 18 states.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: With the exception of the historical
information contained in this news release, the matters described
herein contain "forward-looking" statements that involve risk and
uncertainties that may individually or collectively impact the
matters herein described, including but not limited to the
Company's risks associated with its ability to refinance its credit
facilities on satisfactory terms, overall or regional economic
conditions, dependence upon affiliated dental practices, contracts
its affiliated practices have with third-party payors, government
regulation of the dental industry, impact of health care reform,
dependence upon service agreements and the impact of any
terminations or potential terminations of such contracts, business
interruptions, the outcome of pending litigation and the Company's
acquisition and affiliation strategy, which are detailed from time
to time in the "Risk Factors" section of the Company's SEC reports,
including the annual report on Form 10-K for the year ended
December 31, 2008 and quarterly reports on Form 10-Q.
Contacts: Gregory A. Serrao Chairman, President and Chief
Executive Officer 781-224-0880 Breht T. Feigh Executive Vice
President, Chief Financial Officer and Treasurer 781-224-0880
American Dental Partners, Inc. 401 Edgewater Place, Suite 430
Wakefield, MA 01880 Phone: 781/224-0880 Fax: 781/224-4216
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