American Dental Partners Announces Closing of Underwriter's Over-Allotment Option
WAKEFIELD, MA -- (Marketwire) -- 08/26/09 -- 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.