RDNT - RadNet shares slide on pricing upsized $225M stock offering
2023-06-14 01:18:27 ET
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RadNet ( NASDAQ: RDNT ) down 8.22% after-hours on Tuesday after pricing its underwritten public offering of 7.58M shares of its common stock at a price of $29.75/share.
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Gross proceeds are expected to be ~$225M.
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The offering was upsized from previously announced $175M to ~$225M.
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Underwriters are granted a 30-day option to purchase up to an additional 1.14M shares of common stock at the public offering price.
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Offering is expected to close on or about June 16, 2023.
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Net proceeds from the proposed offering will be used to pay down $10M of its first lien term loans and for working capital and general corporate purposes.
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RadNet shares slide on pricing upsized $225M stock offering