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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;December 23, 2009</P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>Date of
Earliest Event Reported: &nbsp;December 22, 2009</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;] &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;] &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;] &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: 14px" align=justify><BR><BR></P>
<P style="MARGIN: 0px" align=center><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 8.01 Other Matters</B></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>On December 22, 2009, AdCare Health Systems, Inc., (the &#147;Company&#148;)
issued a press release announcing warrant holders approval to amend the terms of
the Company&#146;s public warrants. &nbsp;A copy of the press release is attached as
Exhibit 99.1 to this Form 8-K.</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 14px; LINE-HEIGHT: 12.5pt"
align=justify>The information in this Item 8.01 and Exhibit 99.1 is being
furnished and shall not be deemed &#147;filed&#148; for purposes of Section 18 of the
Securities and 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 of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth 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: 14px; TEXT-INDENT: 48px; 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>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 December 22,
2009</P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 14px" align=justify><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 16px" align=center><BR><BR></P>
<P style="MARGIN: 0px" align=center><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;December 23, 2009</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: 13px" align=center><BR><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>3</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=center><B>EXHIBIT INDEX</B></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="DISPLAY: none; FONT-SIZE: 0px" height=0>
<TD width=84></TD>
<TD width=18></TD>
<TD width=298></TD>
<TD width=17></TD>
<TD width=301></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=84>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 10.5pt"><B>Exhibit
No.</B></P></TD>
<TD vAlign=top width=18>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 10.5pt"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=617
colSpan=3>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 10.5pt"
align=center><B>Description</B></P></TD></TR>
<TR>
<TD vAlign=top width=84>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=top width=18>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=top width=298>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=top width=17>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=top width=301>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=84>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt"
align=center>99.1</P></TD>
<TD vAlign=top width=18>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=top width=617 colSpan=3>
<P style="FONT-SIZE: 10.5pt; MARGIN: 0px; LINE-HEIGHT: 12.5pt">AdCare
Health Systems, Inc. Press Release, dated December 22,
2009.</P></TD></TR></TABLE>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 16px; LINE-HEIGHT: 10.5pt">&nbsp;</P>
<P style="MARGIN: 0px" align=right><BR><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>4</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"
align=right>Exhibit 99.1</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">For Immediate
Release</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">AdCare Health
Systems&#146; <A name=OLE_LINK1></A><A name=OLE_LINK2></A>Warrant Holders Approve
Amending Terms of their Public Warrants</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">SPRINGFIELD, Ohio,
December 22, 2009/PRNewswire-FirstCall/ AdCare Health Systems, Inc. (NYSE AMEX:
ADK), an Ohio based long term care, home care and management company today
reported that the warrants issued in connection with AdCare&#146;s initial public
offering were amended to conform to the terms of the new warrants that were
included in the Company&#146;s recent private placement that raised $2.5 million in
cash to fund its current growth initiatives. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">On December 21, 2009,
the warrant holders voted to reduce the exercise price of their warrants from
$5.40 per share to $2.50 per share, extend the expiration date until December 7,
2014 and provide the Company with a callable option which permits AdCare to call
the warrants for $0.10 per warrant if the common stock trades above $6.00 per
share for 10 consecutive trading days during which the average daily volume for
the 10 day period is at least 40,000 shares. &nbsp;The warrant holder has 30
days to exercise the warrant after receiving the call notice from the
Company.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">David A. Tenwick,
Chairman of AdCare, stated that &#147;with the public warrant holders voting their
warrants to conform with the terms of the new private placement warrants and the
lower exercise price, there is a greater incentive for the warrants to be
exercised which could potentially bring in up to an additional $7 million in
capital. &nbsp;&nbsp;Of course, we are excited about this prospect as we look
for acquisitions of assisted living facilities and nursing homes as well as new
management contracts. &nbsp;AdCare has enjoyed its best year ever in terms of
financial performance, and is looking forward to 2010 with great
anticipation&#148;.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">About AdCare Health
Systems, Inc.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">AdCare Health
Systems, Inc. (NYSE AMEX: ADK) develops, owns and manages assisted living
facilities, nursing homes and retirement communities and provides home health
care services. &nbsp;Prior to becoming a publicly traded company in November of
2006, AdCare operated as a private company for 18 years. &nbsp;AdCare&#146;s 900
employees provide management, development and accounting/financial services to
20 long term care facilities, nine of which are assisted living facilities, ten
skilled nursing centers and one independent senior living community. &nbsp;The
Company has ownership interests in eight of those facilities. &nbsp;In the ever
expanding marketplace of long term care, AdCare&#146;s mission is to provide quality
healthcare services to the elderly.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 14pt; BORDER-BOTTOM: #000000 2px solid">Safe
Harbor Statement</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">Statements contained
in this press release that are not historical facts may be forward-looking
statements within the meaning of federal law. &nbsp;Such forward-looking
statements reflect management&#146;s beliefs and assumptions and are based on
information currently available to management. &nbsp;The forward-looking
statements involve known and unknown risks, results, performance or achievements
of the Company to differ materially from those expressed or implied in such
statements. &nbsp;Such factors are identified in the public filings made by the
Company with the Securities and Exchange Commission and include the Company&#146;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 </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>5</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">changes
in the competitive marketplace. &nbsp;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: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 14pt; BORDER-BOTTOM: #000000 2px solid">Contact:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">David A. Tenwick</P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">Chairman of the
Board</P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">1-740-549-0400 </P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; COLOR: #0000ff; LINE-HEIGHT: 14pt"><U>dat@adcarehealth.com</U><FONT
style="COLOR: #000000"></FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; COLOR: #0000ff; LINE-HEIGHT: 14pt"><U>www.adcarehealth.com</U><FONT
style="COLOR: #000000"></FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>6</P>
<P
style="MARGIN: 0px"><BR></P></BODY>
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SECURITIES AND EXCHANGE COMMISSION
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:  December 23, 2009
Date of
Earliest Event Reported:  December 22, 2009
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 8.01 Other Matters
On December 22, 2009, AdCare Health Systems, Inc., (the "Company")
issued a press release announcing warrant holders approval to amend the terms of
the Company's public warrants.  A copy of the press release is attached as
Exhibit 99.1 to this Form 8-K.
The information in this Item 8.01 and Exhibit 99.1 is being
furnished and shall not be deemed "filed" for purposes of Section 18 of the
Securities and 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 of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth in such
filing.
Item 9.01.  Financial Statements and Exhibits.
Exhibits
Exhibit Number
Description of Exhibit
99.1
Press Release dated December 22,
2009
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:  December 23, 2009
ADCARE
HEALTH SYSTEMS, INC.
By:
/s/ Scott Cunningham
Name:
Scott Cunningham
Title:
 Chief Financial Officer
3
EXHIBIT INDEX
Exhibit
No.
Description
99.1
AdCare
Health Systems, Inc. Press Release, dated December 22,
2009.
4
Exhibit 99.1
For Immediate
Release
AdCare Health
Systems'
Warrant Holders Approve
Amending Terms of their Public Warrants
SPRINGFIELD, Ohio,
December 22, 2009/PRNewswire-FirstCall/ AdCare Health Systems, Inc. (NYSE AMEX:
ADK), an Ohio based long term care, home care and management company today
reported that the warrants issued in connection with AdCare's initial public
offering were amended to conform to the terms of the new warrants that were
included in the Company's recent private placement that raised $2.5 million in
cash to fund its current growth initiatives.
On December 21, 2009,
the warrant holders voted to reduce the exercise price of their warrants from
$5.40 per share to $2.50 per share, extend the expiration date until December 7,
2014 and provide the Company with a callable option which permits AdCare to call
the warrants for $0.10 per warrant if the common stock trades above $6.00 per
share for 10 consecutive trading days during which the average daily volume for
the 10 day period is at least 40,000 shares.  The warrant holder has 30
days to exercise the warrant after receiving the call notice from the
Company.
David A. Tenwick,
Chairman of AdCare, stated that "with the public warrant holders voting their
warrants to conform with the terms of the new private placement warrants and the
lower exercise price, there is a greater incentive for the warrants to be
exercised which could potentially bring in up to an additional $7 million in
capital.   Of course, we are excited about this prospect as we look
for acquisitions of assisted living facilities and nursing homes as well as new
management contracts.  AdCare has enjoyed its best year ever in terms of
financial performance, and is looking forward to 2010 with great
anticipation".
About AdCare Health
Systems, Inc.
AdCare Health
Systems, Inc. (NYSE AMEX: ADK) develops, owns and manages assisted living
facilities, nursing homes and retirement communities and provides home health
care 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 management, development and accounting/financial services to
20 long term care facilities, nine of which are assisted living facilities, ten
skilled nursing centers and one independent senior living community.  The
Company has ownership interests in 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.
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.  The forward-looking
statements involve known and unknown risks, results, performance or achievements
of the Company to 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
5
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.
Contact:
David A. Tenwick
Chairman of the
Board
1-740-549-0400
dat@adcarehealth.com
www.adcarehealth.com
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