Radnet Announces Proposed $175M Underwritten Public Offering Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
RadNet, Inc. (NASDAQ:RDNT) plans to offer and sell $175 million of common stock in an underwritten public offering, with a 30-day option for underwriters to purchase an additional $26.25 million shares. The company intends to use the proceeds to pay down $100 million of its first lien term loans and for working capital and general corporate purposes.
June 13, 2023 | 8:04 pm
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RadNet's proposed $175M underwritten public offering of common stock may dilute existing shares, but will help pay down $100M of debt and fund working capital.
The offering may lead to dilution of existing shares, which could negatively impact the stock price. However, the proceeds will be used to pay down debt and fund working capital, which could improve the company's financial position and potentially offset the dilution effect.
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