AdCare buys $6.7 million of 10% convertibles in one-month tender

By Susanna Moon

Chicago, Jan. 10 – AdCare Health Systems, Inc. said investors had tendered $6.7 million of its $7.7 million of outstanding 10% convertible subordinated notes due April 30, 2017.

After settlement, there will be $1 million of the convertibles left outstanding, according to a company announcement.

As announced Dec. 8, AdCare was tendering for the 10% convertibles until midnight ET on Jan. 9 at a purchase price of par for each $1,000 principal amount plus accrued interest to but excluding the payment date.

For questions about the tender, call 678 869-5116.

AdCare is an Atlanta-based health care-focused real estate investment trust.

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