IMAC Holdings: Down after pricing offering at discount

Imac Holdings

24/03/2021 09:31

** Shares of outpatient clinic operator  IMAC.O  down 4.05%
at $1.66 premarket 
    ** Co prices its underwritten registered public offering of
10.6 mln shares at $1.60 apiece, with expected net proceeds of
about $16.0 mln  urn:newsml:reuters.com:*:nGNX3lr1rX
    ** Offer price is at a discount of 7.51% to stock's last
close; offer size represents ~23% of co's free float - Refinitiv
data 
    ** IMAC also grants the underwriter for the offering a
45-day option to purchase up to 15% of shares on offer
    ** The offering is expected to close around March 26
    ** Kingswood Capital Markets, a division of Benchmark
Investments Inc, is acting as sole bookrunning manager for the
offering
    ** Up to last close, stock up ~13% YTD
    

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))