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<P style="FONT-SIZE: 14pt; MARGIN: 0px; LINE-HEIGHT: 16pt"
align=center><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>Washington, D.C. &nbsp;20549</B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 14pt; MARGIN: 0px; LINE-HEIGHT: 16pt" align=center><B>FORM
8-K</B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>CURRENT
REPORT</P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>PURSUANT
TO SECTION 13 OR 15(d) OF </P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>THE
SECURITIES EXCHANGE ACT OF 1934</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>Date of
Report: &nbsp;July 6, 2010</P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>Date of
Earliest Event Reported: &nbsp;June 30, 2010</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 18.5pt; MARGIN: 0px; LINE-HEIGHT: 20.5pt"
align=center><B>AdCare Health Systems, Inc.</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><I>(Exact Name of Registrant as specified in its Charter)</I></P>
<P style="MARGIN: 0px" align=center><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0 align=center>
<TR style="DISPLAY: none; FONT-SIZE: 0px" height=0>
<TD width=400></TD>
<TD width=357></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><B>Ohio</B></P></TD>
<TD vAlign=bottom width=357>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><B>31-1332119</B></P></TD></TR>
<TR>
<TD vAlign=top width=400>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><I>(State or other jurisdiction of</I></P>
<P
style="FONT-SIZE: 10.5pt; MARGIN: 0px; TEXT-INDENT: 87px; LINE-HEIGHT: 12.5pt"><I>incorporation
or organization)</I></P></TD>
<TD vAlign=top width=357>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><I>(I.R.S. Employer Identification No.)</I></P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><B>5057 Troy Rd, Springfield, OH</B></P></TD>
<TD vAlign=bottom width=357>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><B>45502-9032</B></P></TD></TR>
<TR>
<TD vAlign=top width=400>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><I>(Address of principal executive offices)</I></P></TD>
<TD vAlign=top width=357>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><I>(Zip Code)</I></P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><B>Registrant&#146;s Telephone Number, Including Area Code</B></P>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center><B>(937) 964-8974</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Check the appropriate box below if the form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (See General Instruction A2. below):</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>[ &nbsp;] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>[ &nbsp;] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>[ &nbsp;] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>[ &nbsp;] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c)).</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 16px" align=justify><BR><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>1</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; PAGE-BREAK-BEFORE: always; LINE-HEIGHT: 12.5pt"
align=justify><B>Item 1.01. Entry into a Material Definitive Agreement</B></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>On June 30, 2010, AdCare Health Systems, Inc. (the &#147;Company&#148;)
entered into a common stock purchase agreement (the &#147;Purchase Agreement&#148;) with
C. K. Cooper &amp; Company, Inc. (the &#147;Underwriter&#148;), relating to an
underwritten public offering of 1,714,286 shares of the Company&#146;s common stock,
no par value (the &#147;Common Stock&#148;), at a public offering price of $3.50 per share
(the &#147;Offering&#148;). The Underwriter agreed to purchase the shares from the Company
pursuant to the Purchase Agreement at a price of $3.255 per share. Under the
terms of the Purchase Agreement, the Company granted the Underwriter a 30-day
option to purchase an additional 257,143 shares of Common Stock to cover
overallotments, if any. &nbsp;The Offering closed on July 6, 2010.</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;), or to contribute to the payments the Underwriter
may be required to make in respect of these liabilities. Subject to certain
exceptions, the Company, and the Company&#146;s officers and directors have agreed
not to sell or transfer any shares of Common Stock held by them for 90 days, or
until September 28, 2010, without first obtaining the written consent of the
Underwriter. </P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>The shares were offered pursuant to a shelf registration statement
filed with the Securities and Exchange Commission on May 4, 2010, which became
effective on June 23, 2010 (File No. 333-166488). A copy of the Purchase
Agreement is attached as Exhibit 1.1 and is incorporated herein by reference,
and the foregoing description of the Purchase Agreement does not purport to be
complete and is qualified in its entirety by reference to such exhibit. A
prospectus supplement relating to the Offering was filed with the Securities and
Exchange Commission on June 30, 2010. A copy of the opinion of Carlile Patchen
&amp; Murphy LLP relating to the legality of the issuance and sale of the shares
of Common Stock in the Offering is attached as Exhibit 5.1 hereto.</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify><B>Item 7.01 Regulation FD Disclosure. </B></P>
<P
style="MARGIN-TOP: 5px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>The press release announcing the pricing of the Offering is
attached hereto as Exhibit 99.1 and incorporated herein by reference. &nbsp;The
press release announcing the closing of the Offering is attached hereto as
Exhibit 99.2 and incorporated herein by reference.</P>
<P
style="MARGIN-TOP: 5px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>In accordance with General Instruction B.2 of Form 8-K, the
information presented under this Item 7.01 and attached as Exhibits 99.1 and
99.2 shall not be deemed &#147;filed&#148; for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by
reference in any filing under the Securities Act or the Exchange Act, regardless
of any general incorporation language in such filing.</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify><B>Item 9.01. &nbsp;Financial Statements and Exhibits.</B></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: -16px; TEXT-INDENT: 48px; LINE-HEIGHT: 12.5pt"
align=justify>(d)</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; TEXT-INDENT: 96px; LINE-HEIGHT: 12.5pt"
align=justify>Exhibits</P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="DISPLAY: none; FONT-SIZE: 0px" height=0>
<TD width=127></TD>
<TD width=511></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify><U>Exhibit Number</U></P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify><U>Description of Exhibit</U></P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>1.1</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Common Stock Purchase Agreement dated June 30, 2010, by and
between AdCare Health Systems, Inc. and C. K. Cooper &amp; Company,
Inc.</P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>5.1</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Opinion of Carlile Patchen &amp; Murphy LLP</P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>23.1</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Consent of Carlile Patchen &amp; Murphy LLP (Included in
Exhibit 5.1)</P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>99.1</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Press Release dated June 30, 2010</P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>99.2</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Press Release dated July 6, 2010</P></TD></TR></TABLE>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>&nbsp;&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 16px" align=center><BR><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>2</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; PAGE-BREAK-BEFORE: always; TEXT-INDENT: 48px; LINE-HEIGHT: 12.5pt"
align=center>SIGNATURES</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; TEXT-INDENT: 48px; LINE-HEIGHT: 12.5pt"
align=justify>Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereto duly authorized.</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Date: &nbsp;July 6, 2010</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 336px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt">ADCARE
HEALTH SYSTEMS, INC.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 336px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt">By:<U>
&nbsp;/s/ Scott Cunningham</U></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 336px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt">Name:
Scott Cunningham</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 336px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt">Title:
&nbsp;Chief Financial Officer</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 14px"><BR><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>1</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 32px; PAGE-BREAK-BEFORE: always; LINE-HEIGHT: 14pt"
align=center><B>EXHIBIT INDEX</B></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="DISPLAY: none; FONT-SIZE: 0px" height=0>
<TD width=127></TD>
<TD width=511></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify><U>Exhibit Number</U></P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify><U>Description of Exhibit</U></P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>1.1</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Common Stock Purchase Agreement dated June 30, 2010, by and
between AdCare Health Systems, Inc. and C. K. Cooper &amp; Company,
Inc.</P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>5.1</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Opinion of Carlile Patchen &amp; Murphy LLP</P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>23.1</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Consent of Carlile Patchen &amp; Murphy LLP (Included in
Exhibit 5.1)</P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>99.1</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Press Release dated June 30, 2010</P></TD></TR>
<TR>
<TD vAlign=top width=127>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>99.2</P></TD>
<TD vAlign=top width=511>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>Press Release dated July 6, 2010</P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 14px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 14px" align=right><BR><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>1</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 16px; PAGE-BREAK-BEFORE: always; LINE-HEIGHT: 14pt"
align=right>&nbsp;Exhibit 99.1</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center><IMG
height=60 alt=[adcare8koffering7610001.jpg]
src="adcare8koffering7610001.jpg" width=160 align=middle>&#174;</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P
style="PADDING-RIGHT: 30px; PADDING-LEFT: 36px; FONT-SIZE: 16pt; MARGIN: 0px; LINE-HEIGHT: 17pt; FONT-FAMILY: Calibri"
align=center><B>AdCare Health Systems Prices Offering of $6.0 Million of Common
Stock</B></P>
<P style="MARGIN: 0px; LINE-HEIGHT: 17pt" align=center><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>SPRINGFIELD,
Ohio, June 30, 2010</B> <B>&#151;</B> <B>AdCare Health Systems, Inc. </B>(NYSE AMEX:
ADK), an Ohio-based long-term care, home care and management company, has priced
a public offering of 1,714,286 shares of its common stock at $3.50 per share.
AdCare expects to receive net proceeds of approximately $5.5 million from the
sale of the common stock. AdCare has granted a 30-day option to the underwriter
to purchase up to an additional 15% or 257,143 shares to cover over-allotments.
The offering is subject to customary closing conditions and is expected to close
on Friday, July 2, 2010.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">&nbsp;AdCare
plans to use the net proceeds of the offering for acquisition purposes, working
capital and general corporate purposes. C.K. Cooper &amp; Company is acting as
the sole manager for the public offering. </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">The
offering is being made pursuant to a shelf registration statement filed with the
Securities and Exchange Commission (SEC) on May 4, 2010, which became effective
on June 23, 2010. The offering will be made by a prospectus supplement and
accompanying base prospectus, copies of which have been filed with the SEC. </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Copies
of the prospectus supplement and accompanying base prospectus may be obtained
from the SEC's website at <FONT
style="COLOR: #0000ff"><U>www.sec.gov</U></FONT><FONT
style="FONT-FAMILY: Times New Roman"></FONT> or from C.K. Cooper &amp; Company,
18300 Von Karman Avenue, Suite 700, Irvine, California 92612, Attention: Hue
Lapham/Syndicate Department, or hlapham@ckcooper.com, or via fax
+1-949-477-9211.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">This
press release does not constitute an offer to sell or solicitation of an offer
to buy any securities. Any such offer may be made only pursuant to the company's
prospectus supplement and accompanying base prospectus for the offering and only
in states in which the offering is registered or exempt from registration and by
broker-dealers authorized to do so. The securities offered by the prospectus
involve a high degree of risk.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>About
AdCare Health Systems</B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">AdCare
Health Systems, Inc. (NYSE AMEX: ADK) develops, owns and manages assisted living
facilities, nursing homes and retirement communities and provides home
healthcare services. Prior to becoming a publicly traded company in November of
2006, AdCare operated as a private company for 18 years. AdCare's 900 employees
provide high-quality care, management </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="FONT-SIZE: 12pt; PAGE-BREAK-BEFORE: always; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">services
and other services for patients and residents residing in 19 facilities, seven
of which are assisted living facilities, 11 skilled nursing centers and one
independent senior living community. The company owns eight of those facilities.
In the ever-expanding marketplace of long-term care, AdCare's mission is to
provide quality healthcare services to the elderly. For more information about
AdCare, visit www.adcarehealth.com.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>Safe
Harbor Statement</B></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 4px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Statements
contained in this press release that are not historical facts may be
forward-looking statements within the meaning of federal law. Such
forward-looking statements reflect management's beliefs and assumptions and are
based on information currently available to management, and involve known and
unknown risks, results, performance or achievements of the company which may
differ materially from those expressed or implied in such statements. Such
factors are identified in the public filings made by the company with the
Securities and Exchange Commission and include the company's ability to secure
lines of credit and/or an acquisition credit facility, find suitable acquisition
properties at favorable terms, changes in the health care industry because of
political and economic influences, changes in regulations governing the
industry, changes in reimbursement levels including those under the Medicare and
Medicaid programs and changes in the competitive marketplace. There can be no
assurance that such factors or other factors will not affect the accuracy of
such forward-looking statements.</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 8px"><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 8px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>Company
Contacts</B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">David
A. Tenwick, Chairman &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">AdCare
Health Systems, Inc.</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Tel
(740) 549-0400</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Email:
info@adcarehealth.com<FONT style="FONT-FAMILY: Times New Roman"></FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">or</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Chris
Brogdon</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Vice
Chairman and Chief Acquisitions Officer</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">AdCare
Health Systems, Inc.</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Tel
(937) 964-8974</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Email:
info@adcarehealth.com<FONT style="FONT-FAMILY: Times New Roman"></FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>Investor
Relations</B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Ron
Both or Geoffrey Plank</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Liolios
Group, Inc.</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Tel
(949) 574-3860</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 8px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Email:
info@liolios.com</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 9pt"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 16px" align=right><BR><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 16px; PAGE-BREAK-BEFORE: always; LINE-HEIGHT: 14pt"
align=right>Exhibit 99.2</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center><IMG
height=60 alt=[adcare8koffering7610002.jpg]
src="adcare8koffering7610002.jpg" width=160 align=middle>&#174;</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P
style="PADDING-RIGHT: 30px; PADDING-LEFT: 36px; FONT-SIZE: 16pt; MARGIN: 0px; LINE-HEIGHT: 17pt; FONT-FAMILY: Calibri"
align=center><B>AdCare Health Systems Closes $6.0 Million Equity
Offering</B></P>
<P style="MARGIN: 0px; LINE-HEIGHT: 17pt" align=center><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>SPRINGFIELD,
Ohio, July 6, 2010</B> <B>&#151;</B> <B>AdCare Health Systems, Inc. </B>(NYSE AMEX:
ADK), an Ohio-based long-term care, home care and management company, has closed
its previously announced sale of 1,714,286 shares of common stock at $3.50 per
share, resulting in gross proceeds to the company of $6.0 million. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">AdCare
expects to receive net proceeds of approximately $5.4 million, after deducting
underwriting discounts, commissions, legal fees and other offering-related
expenses payable by the company. As previously announced, AdCare has granted a
30-day option to the underwriter to purchase up to an additional 15% of the
shares offered, or 257,143 shares, to cover over-allotments, if any. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">AdCare
plans to use the net proceeds of the offering for acquisition purposes, working
capital and general corporate purposes. </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">C.K.
Cooper &amp; Company acted as the sole manager for the public offering. </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">The
shares were offered pursuant to a shelf registration statement filed with the
Securities and Exchange Commission (SEC) on May 4, 2010, which became effective
on June 23, 2010. Copies of the prospectus supplement and accompanying base
prospectus, which form a part of the effective registration statement, have been
filed with the SEC and may be obtained from the SEC's website at <FONT
style="COLOR: #0000ff"><U>www.sec.gov</U></FONT><FONT
style="FONT-FAMILY: Times New Roman"></FONT> or from C.K. Cooper &amp; Company,
18300 Von Karman Avenue, Suite 700, Irvine, California 92612, Attention: Hue
Lapham/Syndicate Department, or hlapham@ckcooper.com, or via fax
+1-949-477-9211.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">This
press release does not constitute an offer to sell or solicitation of an offer
to buy any securities. Any such offer may be made only pursuant to the company's
prospectus supplement and accompanying base prospectus for the offering and only
in states in which the offering is registered or exempt from registration and by
broker-dealers authorized to do so. The securities offered by the prospectus
involve a high degree of risk.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>About
AdCare Health Systems</B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">AdCare
Health Systems, Inc. (NYSE AMEX: ADK) develops, owns and manages assisted living
facilities, nursing homes and retirement communities and provides home
healthcare services. Prior to becoming a publicly traded company in November of
2006, AdCare operated as a </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="FONT-SIZE: 12pt; PAGE-BREAK-BEFORE: always; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">private
company for 18 years. AdCare's 900 employees provide high-quality care,
management services and other services for patients and residents residing in 19
facilities, seven of which are assisted living facilities, 11 skilled nursing
centers and one independent senior living community. The company owns eight of
those facilities. In the ever-expanding marketplace of long-term care, AdCare's
mission is to provide quality healthcare services to the elderly. For more
information about AdCare, visit www.adcarehealth.com.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>Safe
Harbor Statement</B></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 8px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Statements
contained in this press release that are not historical facts may be
forward-looking statements within the meaning of federal law. Such
forward-looking statements reflect management's beliefs and assumptions and are
based on information currently available to management, and involve known and
unknown risks, results, performance or achievements of the company which may
differ materially from those expressed or implied in such statements. Such
factors are identified in the public filings made by the company with the
Securities and Exchange Commission and include, among others, the company's
ability to secure lines of credit and/or an acquisition credit facility, find
suitable acquisition properties at favorable terms, changes in the health care
industry because of political and economic influences, changes in regulations
governing the industry, changes in reimbursement levels including those under
the Medicare and Medicaid programs and changes in the competitive marketplace.
There can be no assurance that such factors or other factors will not affect the
accuracy of such forward-looking statements. Except where required by law,
AdCare undertakes no obligation to revise or update any forward-looking
statements to reflect events or circumstances after the date of this press
release.</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 8px"><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 8px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>Company
Contacts</B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">David
A. Tenwick, Chairman &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">AdCare
Health Systems, Inc.</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Tel
(740) 549-0400</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Email:
info@adcarehealth.com<FONT style="FONT-FAMILY: Times New Roman"></FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">or</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Chris
Brogdon</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Vice
Chairman and Chief Acquisitions Officer</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">AdCare
Health Systems, Inc.</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Tel
(937) 964-8974</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Email:
info@adcarehealth.com<FONT style="FONT-FAMILY: Times New Roman"></FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri"><B>Investor
Relations</B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Ron
Both or Geoffrey Plank</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Liolios
Group, Inc.</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Tel
(949) 574-3860</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 8px; LINE-HEIGHT: 14pt; FONT-FAMILY: Calibri">Email:
info@liolios.com</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 9pt"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 16px" align=justify><BR></P>
<H1>&nbsp;</H1>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 16px" align=justify><BR><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN: 0px"><BR></P></BODY>
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_
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of
Report:  July 6, 2010
Date of
Earliest Event Reported:  June 30, 2010
AdCare Health Systems, Inc.
(Exact Name of Registrant as specified in its Charter)
Ohio
31-1332119
(State or other jurisdiction of
incorporation
or organization)
(I.R.S. Employer Identification No.)
5057 Troy Rd, Springfield, OH
45502-9032
(Address of principal executive offices)
(Zip Code)
Registrant's Telephone Number, Including Area Code
(937) 964-8974
Check the appropriate box below if the form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (See General Instruction A2. below):
[  ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[  ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
[  ] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c)).
1
Item 1.01. Entry into a Material Definitive Agreement
On June 30, 2010, AdCare Health Systems, Inc. (the "Company")
entered into a common stock purchase agreement (the "Purchase Agreement") with
C. K. Cooper & Company, Inc. (the "Underwriter"), relating to an
underwritten public offering of 1,714,286 shares of the Company's common stock,
no par value (the "Common Stock"), at a public offering price of $3.50 per share
(the "Offering"). The Underwriter agreed to purchase the shares from the Company
pursuant to the Purchase Agreement at a price of $3.255 per share. Under the
terms of the Purchase Agreement, the Company granted the Underwriter a 30-day
option to purchase an additional 257,143 shares of Common Stock to cover
overallotments, if any.  The Offering closed on July 6, 2010.
The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the Securities Act of 1933, as
amended (the "Securities Act"), or to contribute to the payments the Underwriter
may be required to make in respect of these liabilities. Subject to certain
exceptions, the Company, and the Company's officers and directors have agreed
not to sell or transfer any shares of Common Stock held by them for 90 days, or
until September 28, 2010, without first obtaining the written consent of the
Underwriter.
The shares were offered pursuant to a shelf registration statement
filed with the Securities and Exchange Commission on May 4, 2010, which became
effective on June 23, 2010 (File No. 333-166488). A copy of the Purchase
Agreement is attached as Exhibit 1.1 and is incorporated herein by reference,
and the foregoing description of the Purchase Agreement does not purport to be
complete and is qualified in its entirety by reference to such exhibit. A
prospectus supplement relating to the Offering was filed with the Securities and
Exchange Commission on June 30, 2010. A copy of the opinion of Carlile Patchen
& Murphy LLP relating to the legality of the issuance and sale of the shares
of Common Stock in the Offering is attached as Exhibit 5.1 hereto.
Item 7.01 Regulation FD Disclosure.
The press release announcing the pricing of the Offering is
attached hereto as Exhibit 99.1 and incorporated herein by reference.  The
press release announcing the closing of the Offering is attached hereto as
Exhibit 99.2 and incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the
information presented under this Item 7.01 and attached as Exhibits 99.1 and
99.2 shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by
reference in any filing under the Securities Act or the Exchange Act, regardless
of any general incorporation language in such filing.
Item 9.01.  Financial Statements and Exhibits.
(d)
Exhibits
Exhibit Number
Description of Exhibit
1.1
Common Stock Purchase Agreement dated June 30, 2010, by and
between AdCare Health Systems, Inc. and C. K. Cooper & Company,
Inc.
5.1
Opinion of Carlile Patchen & Murphy LLP
23.1
Consent of Carlile Patchen & Murphy LLP (Included in
Exhibit 5.1)
99.1
Press Release dated June 30, 2010
99.2
Press Release dated July 6, 2010
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereto duly authorized.
Date:  July 6, 2010
ADCARE
HEALTH SYSTEMS, INC.
By:
/s/ Scott Cunningham
Name:
Scott Cunningham
Title:
 Chief Financial Officer
1
EXHIBIT INDEX
Exhibit Number
Description of Exhibit
1.1
Common Stock Purchase Agreement dated June 30, 2010, by and
between AdCare Health Systems, Inc. and C. K. Cooper & Company,
Inc.
5.1
Opinion of Carlile Patchen & Murphy LLP
23.1
Consent of Carlile Patchen & Murphy LLP (Included in
Exhibit 5.1)
99.1
Press Release dated June 30, 2010
99.2
Press Release dated July 6, 2010
1
Exhibit 99.1
®
AdCare Health Systems Prices Offering of $6.0 Million of Common
Stock
SPRINGFIELD,
Ohio, June 30, 2010
—
AdCare Health Systems, Inc.
(NYSE AMEX:
ADK), an Ohio-based long-term care, home care and management company, has priced
a public offering of 1,714,286 shares of its common stock at $3.50 per share.
AdCare expects to receive net proceeds of approximately $5.5 million from the
sale of the common stock. AdCare has granted a 30-day option to the underwriter
to purchase up to an additional 15% or 257,143 shares to cover over-allotments.
The offering is subject to customary closing conditions and is expected to close
on Friday, July 2, 2010.
AdCare
plans to use the net proceeds of the offering for acquisition purposes, working
capital and general corporate purposes. C.K. Cooper & Company is acting as
the sole manager for the public offering.
The
offering is being made pursuant to a shelf registration statement filed with the
Securities and Exchange Commission (SEC) on May 4, 2010, which became effective
on June 23, 2010. The offering will be made by a prospectus supplement and
accompanying base prospectus, copies of which have been filed with the SEC.
Copies
of the prospectus supplement and accompanying base prospectus may be obtained
from the SEC's website at
www.sec.gov
or from C.K. Cooper & Company,
18300 Von Karman Avenue, Suite 700, Irvine, California 92612, Attention: Hue
Lapham/Syndicate Department, or hlapham@ckcooper.com, or via fax
+1-949-477-9211.
This
press release does not constitute an offer to sell or solicitation of an offer
to buy any securities. Any such offer may be made only pursuant to the company's
prospectus supplement and accompanying base prospectus for the offering and only
in states in which the offering is registered or exempt from registration and by
broker-dealers authorized to do so. The securities offered by the prospectus
involve a high degree of risk.
About
AdCare Health Systems
AdCare
Health Systems, Inc. (NYSE AMEX: ADK) develops, owns and manages assisted living
facilities, nursing homes and retirement communities and provides home
healthcare services. Prior to becoming a publicly traded company in November of
2006, AdCare operated as a private company for 18 years. AdCare's 900 employees
provide high-quality care, management
services
and other services for patients and residents residing in 19 facilities, seven
of which are assisted living facilities, 11 skilled nursing centers and one
independent senior living community. The company owns eight of those facilities.
In the ever-expanding marketplace of long-term care, AdCare's mission is to
provide quality healthcare services to the elderly. For more information about
AdCare, visit www.adcarehealth.com.
Safe
Harbor Statement
Statements
contained in this press release that are not historical facts may be
forward-looking statements within the meaning of federal law. Such
forward-looking statements reflect management's beliefs and assumptions and are
based on information currently available to management, and involve known and
unknown risks, results, performance or achievements of the company which may
differ materially from those expressed or implied in such statements. Such
factors are identified in the public filings made by the company with the
Securities and Exchange Commission and include the company's ability to secure
lines of credit and/or an acquisition credit facility, find suitable acquisition
properties at favorable terms, changes in the health care industry because of
political and economic influences, changes in regulations governing the
industry, changes in reimbursement levels including those under the Medicare and
Medicaid programs and changes in the competitive marketplace. There can be no
assurance that such factors or other factors will not affect the accuracy of
such forward-looking statements.
Company
Contacts
David
A. Tenwick, Chairman
AdCare
Health Systems, Inc.
Tel
(740) 549-0400
Email:
info@adcarehealth.com
or
Chris
Brogdon
Vice
Chairman and Chief Acquisitions Officer
AdCare
Health Systems, Inc.
Tel
(937) 964-8974
Email:
info@adcarehealth.com
Investor
Relations
Ron
Both or Geoffrey Plank
Liolios
Group, Inc.
Tel
(949) 574-3860
Email:
info@liolios.com
Exhibit 99.2
®
AdCare Health Systems Closes $6.0 Million Equity
Offering
SPRINGFIELD,
Ohio, July 6, 2010
—
AdCare Health Systems, Inc.
(NYSE AMEX:
ADK), an Ohio-based long-term care, home care and management company, has closed
its previously announced sale of 1,714,286 shares of common stock at $3.50 per
share, resulting in gross proceeds to the company of $6.0 million.
AdCare
expects to receive net proceeds of approximately $5.4 million, after deducting
underwriting discounts, commissions, legal fees and other offering-related
expenses payable by the company. As previously announced, AdCare has granted a
30-day option to the underwriter to purchase up to an additional 15% of the
shares offered, or 257,143 shares, to cover over-allotments, if any.
AdCare
plans to use the net proceeds of the offering for acquisition purposes, working
capital and general corporate purposes.
C.K.
Cooper & Company acted as the sole manager for the public offering.
The
shares were offered pursuant to a shelf registration statement filed with the
Securities and Exchange Commission (SEC) on May 4, 2010, which became effective
on June 23, 2010. Copies of the prospectus supplement and accompanying base
prospectus, which form a part of the effective registration statement, have been
filed with the SEC and may be obtained from the SEC's website at
www.sec.gov
or from C.K. Cooper & Company,
18300 Von Karman Avenue, Suite 700, Irvine, California 92612, Attention: Hue
Lapham/Syndicate Department, or hlapham@ckcooper.com, or via fax
+1-949-477-9211.
This
press release does not constitute an offer to sell or solicitation of an offer
to buy any securities. Any such offer may be made only pursuant to the company's
prospectus supplement and accompanying base prospectus for the offering and only
in states in which the offering is registered or exempt from registration and by
broker-dealers authorized to do so. The securities offered by the prospectus
involve a high degree of risk.
About
AdCare Health Systems
AdCare
Health Systems, Inc. (NYSE AMEX: ADK) develops, owns and manages assisted living
facilities, nursing homes and retirement communities and provides home
healthcare services. Prior to becoming a publicly traded company in November of
2006, AdCare operated as a
private
company for 18 years. AdCare's 900 employees provide high-quality care,
management services and other services for patients and residents residing in 19
facilities, seven of which are assisted living facilities, 11 skilled nursing
centers and one independent senior living community. The company owns eight of
those facilities. In the ever-expanding marketplace of long-term care, AdCare's
mission is to provide quality healthcare services to the elderly. For more
information about AdCare, visit www.adcarehealth.com.
Safe
Harbor Statement
Statements
contained in this press release that are not historical facts may be
forward-looking statements within the meaning of federal law. Such
forward-looking statements reflect management's beliefs and assumptions and are
based on information currently available to management, and involve known and
unknown risks, results, performance or achievements of the company which may
differ materially from those expressed or implied in such statements. Such
factors are identified in the public filings made by the company with the
Securities and Exchange Commission and include, among others, the company's
ability to secure lines of credit and/or an acquisition credit facility, find
suitable acquisition properties at favorable terms, changes in the health care
industry because of political and economic influences, changes in regulations
governing the industry, changes in reimbursement levels including those under
the Medicare and Medicaid programs and changes in the competitive marketplace.
There can be no assurance that such factors or other factors will not affect the
accuracy of such forward-looking statements. Except where required by law,
AdCare undertakes no obligation to revise or update any forward-looking
statements to reflect events or circumstances after the date of this press
release.
Company
Contacts
David
A. Tenwick, Chairman
AdCare
Health Systems, Inc.
Tel
(740) 549-0400
Email:
info@adcarehealth.com
or
Chris
Brogdon
Vice
Chairman and Chief Acquisitions Officer
AdCare
Health Systems, Inc.
Tel
(937) 964-8974
Email:
info@adcarehealth.com
Investor
Relations
Ron
Both or Geoffrey Plank
Liolios
Group, Inc.
Tel
(949) 574-3860
Email:
info@liolios.com