Ensign Group, a Mission Viejo-based nursing home and rehabilitative care company, on Monday revised terms to go public, increasing the amount it plans to raise.
The company now expects to raise $101.2 million, according to a Securities and Exchange Commission filing Friday.
It previously had planned to raise up to $95 million in its offering.
Ensign plans to offer 4 million shares at $20 to $22 a share. The stock is set to trade Nasdaq under the ticker “ENSG.” A date hasn’t been set yet.
Great Falls, Montana-based D.A. Davidson & Co. and Stifel Nicolaus & Co. of St. Louis are underwriting the deal.
For the six months through June, Ensign posted a profit of $9.8 million, a 9% drop from a year earlier. Sales for the period grew 17% to $198.2 million versus a year ago.
The company plans to use the proceeds of its offering to buy additional facilities, upgrade existing ones, pay down debt and for general purposes.
It was founded in 1999 and has 60 facilities in California and five other states. The company has 5,435 workers.
