RadNet Announces Closing Of Upsized Public Offering Of Common Stock
16 Junho 2023 - 5:01PM
RadNet, Inc. (NASDAQ: RDNT), a national leader in
providing high-quality, cost-effective, fixed-site outpatient
diagnostic imaging services, announced today the closing of its
underwritten public offering of 8,711,250 shares of its common
stock at a price to the public of $29.75 per share, which includes
the entire overallotment option to the underwriters of 1,136,250
shares. The gross proceeds to RadNet from the offering, before
deducting the underwriting discounts and commissions and other
offering expenses, are expected to be approximately
$259.2 million.
RadNet intends to use the net proceeds from the
proposed offering to pay down $100 million of its first lien term
loans and for working capital and general corporate purposes.
Jefferies and Raymond James acted as joint
active book-running managers for the offering. Barclays, Truist
Securities, RBC Capital Markets and TD Securities also acted as
joint book-running managers for the offering. CJS Securities acted
as a co-manager for the offering.
The securities described above were offered by
RadNet pursuant to a shelf registration statement previously filed
and declared effective by the Securities and Exchange Commission
(“SEC”). Copies of the final prospectus supplement and the
accompanying prospectus relating to the offering may be obtained
from: Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, New York, NY 10022, by telephone at
(877) 821-7388 or by email at
prospectus_department@jefferies.com; or from Raymond James &
Associates, Inc., Attention: Equity Syndicate, 880 Carillon
Parkway, St. Petersburg, Florida 33716, by telephone at (800)
248-8863, or by email at prospectus@raymondjames.com. Electronic
copies of the final prospectus supplement and accompanying
prospectus were filed with the SEC and are available on the website
of the SEC at http://www.sec.gov.
About RadNet, Inc.
RadNet, Inc. is the leading national provider of
freestanding, fixed-site diagnostic imaging services in the United
States based on the number of locations and annual imaging revenue.
RadNet has a network of 363 owned and/or operated outpatient
imaging centers. RadNet's markets include California, Maryland,
Delaware, New Jersey, New York, Florida and Arizona. In addition,
RadNet provides radiology information technology and artificial
intelligence solutions, teleradiology professional services and
other related products and services to customers in the diagnostic
imaging industry. Together with affiliated radiologists, and
inclusive of full-time and per diem employees and technicians,
RadNet has a total of over 9,000 employees.
Forward-Looking Statements
RadNet cautions you that statements contained in
this press release regarding matters that are not historical facts
are forward-looking statements. These statements are based on the
company’s current beliefs and expectations. Such forward-looking
statements include, but are not limited to, statements relating to
the anticipated use of proceeds from the offering. The inclusion of
forward-looking statements should not be regarded as a
representation by RadNet that any of its plans will be achieved.
Actual results may differ from those set forth in this press
release due to the risks and uncertainties inherent in RadNet’s
business described in the Company’s filings with the SEC, included
under the heading “Risk Factors” in the Company’s Annual Report on
Form 10-K and any subsequent filings with the SEC. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, and RadNet
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date
hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, which is made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995.
CONTACTS: RadNet,
Inc. Mark Stolper,
310-445-2800 Executive Vice President and
Chief Financial Officer
RadNet (NASDAQ:RDNT)
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