United States Physical Therapy (USPH) offers $150 million in common stock
US Physical Therapy, Inc. (USPH) announced that it has commenced a guaranteed public offering of $150,000,000 in common shares. The Company has granted its underwriters the option to purchase up to $22,500,000 in additional ordinary shares from the Company.
Physiotherapy USA intends to use the net proceeds from this offering to repay a portion of the outstanding debt under a revolving credit facility and for general corporate purposes, including purchasing future return and other capital expenditures, as well as financing working capital and paying dividends.
BofA Securities and JP Morgan acted as joint planners for the offering and Jefferies acted as planners. Supply is subject to market and other conditions, and there is no guarantee as to whether a supply can be completed or as to the actual size or conditions of the offer.
