Homedco Raises $47.9 Million in Its Initial Stock Offering

Homedco Group Inc. in Fountain Valley, a provider of home respiratory care with operations in 35 states, raised about $47.9 million Thursday in an initial public stock offering. The company’s underwriting group sold 4.2 million shares of stock--3.2 million offered by Homedco and another million by private shareholders--at $15 per share, and the stock closed at $17.50 on the over-the-counter market. Homedco will use the money to repay loans and to buy back stock.