RadNet Inc RDNT shares are trading lower by 8.71% to $30.12 Wednesday afternoon after the company announced the pricing of its underwritten public offering of 7.575 million shares for $29.75 per share and approximately $225 million in gross proceeds.
RadNet has granted the underwriters a 30-day option to purchase additional common stock, up to 1,136,250 shares, at the public offering price, with the offering expected to close around June 16, subject to customary closing conditions.
See Also: Powell Hits The Brakes After 10 Straight Interest Rate Increases
The net proceeds from the offering will be utilized by RadNet to pay down $100 million of its first lien term loans and for general corporate purposes.
According to data from Benzinga Pro, RDNT has a 52-week high of $32.97 and a 52-week low of $12.03.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
