ARV Assisted Living Inc.: The Costa Mesa...

ARV Assisted Living Inc.: The Costa Mesa company said it raised $43.4 million in its first public sale of stock, which closed Wednesday at $15, up $1 from the initial offering price, in trading on the Nasdaq market. The company, which operates housing and care facilities for the elderly, offered 3.1 million shares. Proceeds will be used to acquire and develop additional assisted-living facilities, including eight in development for senior citizens who need help with some activities but don’t need the constant care of a nursing home.