Simpson Thacher Represents Adeptus Health Inc. in Initial Public Offering
06.30.14
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The Firm represented Adeptus Health Inc. in connection with its initial public offering of 5,635,000 shares of common stock (including shares sold by a selling stockholder pursuant to the underwriters’ full exercise of their over-allotment option) at a public offering price of $22.00 per share. Adeptus Health’s common stock began trading on the New York Stock Exchange under the ticker symbol “ADPT” on June 25, 2014. The underwriting syndicate was led by Deutsche Bank Securities and Goldman, Sachs & Co.
Adeptus Health used the net proceeds of the IPO to repay outstanding indebtedness. Any remaining proceeds will be used for general corporate purposes, including working capital to support facility expansion efforts.
Adeptus Health, a Sterling Partners portfolio company, owns and operates First Choice Emergency Room, the largest network of independent freestanding emergency rooms in the United States.
The Simpson Thacher team included Joe Kaufman, Arjun Koshal, Alexander Coedo and Julianna Manzi (Capital Markets); Jennifer Nadborny, Ellen Smiley and Maia Gez (Public Company Advisory Practice); Marcy Geller, Adam Wells and Michael Cardella (Tax); David Rubinsky and Douglas Tang (Executive Compensation and Employee Benefits) and Michael Isby (Environmental).