American Dental Partners Announces Closing of Underwriter's Over-Allotment Option
26 August 2009 - 10:12PM
Marketwired
American Dental Partners, Inc. (NASDAQ: ADPI) announced today that
the underwriter of its previously announced public offering has
exercised its over-allotment option to purchase an additional
339,000 shares at a price of $12.00 per share to the public with
net proceeds to the Company of approximately $3,844,260 after
deducting underwriting discounts and commissions. The purchase by
the underwriter of the additional shares closed today.
Robert W. Baird & Co. acted as the sole underwriter for the
public offering.
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 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 781-224-880 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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