Navigation Links
Arcadia Resources Announces Closing of $11.1 Million Financing
Date:11/23/2009

INDIANAPOLIS, Nov. 23 /PRNewswire-FirstCall/ -- Arcadia Resources, Inc. (NYSE Amex: KAD), a leading provider of innovative consumer health care services under the Arcadia HealthCare(SM)( )brand, announced today that it has completed the previously announced sale of shares of its common stock and warrants to purchase common stock pursuant to a registered direct offering to institutional investors, representing gross proceeds to Arcadia of approximately $11.1 million.

Under the terms of separate Subscription Agreements with the investors, Arcadia sold an aggregate of 15,857,141 units. Each unit, which consists of one share of common stock and a warrant to purchase 0.45 shares of common stock, were sold for a purchase price of $0.70. The warrants to purchase additional shares will be exercisable at a price of $0.95 per share beginning six months and one day after issuance and will expire five years from the date they are first exercisable.

The common stock and warrants were sold by Arcadia pursuant to an effective registration statement on Form S-3 filed with the Securities and Exchange Commission (SEC). A prospectus relating to the offering was filed with the SEC on Nov. 9, 2009. Burnham Hill Partners, LLC acted as the exclusive placement agent for the transaction.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the Company's shares of common stock or warrants. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful. Copies of the prospectus supplement and accompanying prospectus may be obtained directly from the Company by contacting Arcadia Resources, Inc., 9229 Delegates Row, Suite 260, Indianapolis, IN 46240.

About Arcadia HealthCare(SM)

Arcadia HealthCare is a service mark of Arcadia Resources, Inc. (NYSE Amex: KAD), and is a leading provider of home care, medical staffing and pharmacy services under its proprietary DailyMed program. The Company, headquartered in Indianapolis, Indiana, has 65 locations in 20 states. Arcadia HealthCare's comprehensive solutions and business strategies support the Company's vision of "Keeping People at Home and Healthier Longer."

DailyMed(TM) Pharmacy dispenses a monthly cycle of a patient's prescriptions, over-the-counter medications and vitamins, and organizes them into pre-sorted packets clearly marked with the date and time the medications should be taken. In the dispensing process, a DailyMed pharmacist reviews each patient's medication profile and utilizes state-of-the-art medication therapy management tools in order to improve the safety and efficacy of the medications being dispensed. A DailyMed pharmacist provides routine communication with the patient, the primary care physician, caregivers and payers in order to maximize the pharmaceutical care administered. The DailyMed program improves patient care and drug utilization while reducing drug and hospitalization costs for private and government payers.

SOURCE Arcadia Resources, Inc.


'/>"/>
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Arcadian Health Plans Name Frank Apgar, MD as New Chief Medical Officer
2. Arcadian Health Plans Expand Their Medicare Health Plan Offerings and Enter Four New States
3. Arcadian Health Names Rick Click as New Chief Information Officer
4. Arcadia Resources to Present at Wall Street Analyst Forum Investor Conference in New York
5. Arcadia Resources to Attend Barrington Research Healthcare Conference
6. Arcadia Resources Announces First Quarter Results
7. Arcadia HealthCares DailyMed(TM) Signs Deal with Comfort Keepers(R), A Leading Provider of In-Home Care
8. Arcadia Resources Announces Webcast of Its Fiscal 2010 First Quarter Conference Call
9. Arcadian Chairman and Chief Executive Officer, Robert Fahlman, to Present at Focus on Healthcare Conference in New York City
10. Arcadia Resources Announces Fourth Quarter and Fiscal 2009 Year-End Results
11. WellPoint State Sponsored Business Launches New Program with Arcadia HealthCare to Help Improve Medication Safety, Efficacy and Compliance for Medicaid Members
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/27/2017)... ... March 27, 2017 , ... ... the New England Journal of Medicine and NEJM Journal Watch, announces the release ... Review was created by a panel of pediatricians from leading medical centers. The ...
(Date:3/27/2017)... ... March 27, 2017 , ... M&S ... Certificate of Conformity for the Smart System® 20/20. CE Certification builds upon M&S's ... standards and specifications such as ANSI, ISO and proven test methods used in ...
(Date:3/27/2017)... ... March 27, 2017 , ... The Case Management Society of America ... June 30, 2017. CMSA’s membership has elected their upcoming President-Elect, Secretary, Treasurer and ... Advisory position, a new VA Advisory position has also been added to the BOD, ...
(Date:3/27/2017)... ... March 27, 2017 , ... American Veterinarian™, ... coverage on veterinary medicine, announces the launch of Veterinarian’s Money Digest™, a business ... the April edition of American Veterinarian™. , “We look forward to ...
(Date:3/27/2017)... ... March 27, 2017 , ... Osteitis pubis ... type of groin injury, it occurs when the muscles around the pelvis become ... and around the lower torso, as well as accompanying tenderness and weakness. Without ...
Breaking Medicine News(10 mins):
(Date:3/27/2017)... and BOSTON , ... a leading global pharmaceutical company and Paratek Pharmaceuticals, ... the development and commercialization of innovative therapies based ... 3 trials of sarecycline for the treatment of ... primary efficacy endpoints. Sarecycline is a once-daily, oral, ...
(Date:3/27/2017)... , March 27, 2017  Impax Laboratories, Inc. ... appointed Paul M. Bisaro as Impax,s President ... Company,s Board, effective March 27, 2017. Mr. Bisaro will ... as Interim President and Chief Executive Officer since December ... generic and branded pharmaceutical experience, Mr. Bisaro, 56, is ...
(Date:3/27/2017)...  PhaseRx, Inc. (NASDAQ: PZRX), a biopharmaceutical company ... in children, today reported financial results for the ... 2016 and provided an update on its corporate ... progress during the fourth quarter of 2016 through ... safety study, and with our lead development candidate, ...
Breaking Medicine Technology: