By Sheri Kasprzak
Atlanta, Feb. 14 - QMed, Inc. said it has raised $7,149,993 in a private placement of stock.
The company sold 635,555 shares at $11.25 each. The deal was priced at a 4.1% discount to the average closing price for 15 trading days ending Feb. 11.
The offering also comes with additional investment rights for 158,889 shares at $11.75 each, exercisable for 30 days after the deal closes.
First Albany Capital Corp. was the placement agent.
Separately, the investors of a Dec. 6 private placement have exercised 142,857 shares granted from additional investment rights for total gross proceeds of $1,571,427.
Based in Eatontown, N.J., QMed provides disease management services to healthcare plans to and Medicare.
| Issuer: | QMed, Inc.
|
| Issue: | Stock
|
| Amount: | $7,149,993
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| Shares: | 635,555
|
| Price: | $11.25
|
| AIRs: | For 158,889 shares
|
| AIRs price: | $11.75
|
| Warrants: | No
|
| Placement agent: | First Albany Capital Corp.
|
| Settlement date: | Feb. 14 |
|
| Stock price: | $12.90 at close Feb. 11
|
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