Boston, MA 05/20/2013 (wallstreetpr) – Friday’s trading session saw AdCare Health Systems, Inc (NYSEMKT:ADK) climbing down by 12.41%. It opened at a price of $5.55 which reached an intraday high of $5.66 before heading down to close at $5.01 per share. In excess of 0.168 million shares exchanged hands in the previous trading session. This figure stood below the average volume of 0.924 million that was measured over a 30-day period.
On Friday, ADK announced that it has issued a ten-year warrant to Ronald W. Fleming, Chief Financial Officer to purchase 70,000 shares on 15 May 2013. This common stock has the exercise price of $5.90 per share. 1/3rd of the shares that underlie the warrant will be vested ratably 15 May 2014, 15 May 2015 and 15 May 2016. A change in AdCare control will accelerate the vesting of the underlying shares. The warrant is exercisable by cashless exercise or cash. The Compensation Committee of the company’s Board of Directors approved the warrant issuance.
Via its subsidiaries, AdCare Health Systems, Inc (NYSEMKT:ADK) owns and operates skilled nursing facilities, retirement communities as well as assisted living facilities in Alabama, Arkansas, Missouri, Georgia, North Carolina, Oklahoma and Ohio. ADK’s facilities provide a variety of health-care services to residents including assisted living services, skilled nursing, various therapy services, social services and other healthcare and rehabilitative services. It operates in three different segments- SNF or skilled nursing facilities, ALF or assisted living facilities as well as corporate & other.
