American CareSource now to sell $13 million of units via public sale

Proceeds used to acquire and open care centers and for working capital

By Devika Patel

Knoxville, Tenn., Nov. 12 – American CareSource Holdings, Inc. now plans to sell $13 million of units in its public offering of its common stock with a 15% greenshoe, according to a prospectus filed Thursday with the Securities and Exchange Commission. The deal was announced as a $13 million stock offering on Oct. 22.

The two types of units will consist of common shares with warrants and series A convertible preferred shares with warrants. The warrants will be exercisable at 125% of the purchase price of the common share units.

Joseph Gunnar & Co. is the bookrunner; Axiom Capital Management and Neidiger, Tucker, Bruner, Inc. are the co-managers.

Proceeds will be used for the four-location Medac Asset acquisition, to open additional urgent and primary care centers and for working capital.

Based in Atlanta, American CareSource is a health care benefits management firm.

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