By Devika Patel
Knoxville, Tenn., Nov. 13 - Merge Healthcare Inc. said it will raise $27.25 million in a registered direct offering of stock.
The company will sell 9,084,032 common shares at $3.00 apiece.
William Blair & Co., LLC is the lead agent. Craig-Hallum Capital Group LLC and Robert W. Baird & Co. Inc. are co-agents.
Settlement is expected Nov. 18.
Proceeds will be used to prepay the company's senior secured note held by Merrick RIS, LLC, which is due in June. The remaining proceeds will be used for general corporate purposes, including working capital.
Based in Milwaukee, Merge Healthcare develops medical imaging and information management software and services.
| Issuer: | Merge Healthcare Inc.
|
| Issue: | Common stock
|
| Amount: | $27,252,096
|
| Shares: | 9,084,032
|
| Price: | $3.00
|
| Warrants: | No
|
| Agents: | William Blair & Co., LLC (lead agent); Craig-Hallum Capital Group LLC and Robert W. Baird & Co. Inc. (co-agents)
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 18
|
| Stock symbol: | Nasdaq: MRGE
|
| Stock price: | $3.12 at close Nov. 13
|
| Market capitalization: | $206 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
