RadNet Announces Pricing of Public Offering of Common Stock

Source: wallstreet:online

LOS ANGELES, March 07, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, announced today the pricing of its underwritten public offering of 4,550,000 shares of its common stock at a price to the public of $44.00 per share. The gross proceeds to RadNet from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $200 million. In addition, RadNet has granted the underwriters a 30-day option to purchase up to an additional 682,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about March 12, 2024, subject to satisfaction of customary closing conditions.

RadNet intends to use the net proceeds from the proposed offering for general corporate purposes and future acquisitions.