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:10/13/2017)... EDWARDSVILLE, Ill. (PRWEB) , ... ... ... University Edwardsville School of Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and ... educated healthcare professionals on guideline updates for the primary prevention of cardiovascular ...
(Date:10/13/2017)... OBISPO, Calif. (PRWEB) , ... October 13, 2017 , ... ... or dementia. However, many long-term care insurance companies have a waiver for care if ... the 90-day elimination period, when the family pays for care, is often waived, so ...
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th ... Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s CEO, ... The fun run is geared towards children of all ages; it is a non-competitive, ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... Software Development, has been awarded a contract by the Center for Medicare and ... aims to accelerate the enterprise use of Agile methodologies in a consistent and ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance (FHC), an ... showcase a range of technology and learning solutions at the 68th Annual American ... to be held October 14–18, 2017 at the Mandalay Bay Resort in Las ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... 2017  Eli Lilly and Company (NYSE: ... third quarter of 2017 on Tuesday, October 24, 2017. ... day with the investment community and media to further ... call will begin at 9 a.m. Eastern time. Investors, ... webcast of the conference call through a link that ...
(Date:9/28/2017)... WASHINGTON , Sept. 28, 2017 Cohen ... to advance the use of wearable and home sensors ... brain disorders. Early Signal Foundation, a nonprofit organization focused ... populations, will provide an affordable analytical system to record ... ...
(Date:9/23/2017)... Sept. 22, 2017 Janssen Biotech, Inc. (Janssen) ... letter from the U.S. Food and Drug Administration (FDA) ... sirukumab for the treatment of moderately to severely active ... clinical data are needed to further evaluate the safety ... active RA. ...
Breaking Medicine Technology: