RadNet slides on pricing $225 mln stock offering

RadNet

14/06/2023 11:20

** RadNet Inc's  RDNT.O  shares down 9% at $30 premarket,
threatening to snap 4-session winning streak, on radiology
firm's overnight follow-on
    ** Co late Tues sold ~7.6 mln shares at $29.75 for $225 mln
raise
    ** Offering size boosted from $175 mln, priced at 9.7%
discount to last sale
    ** Co plans to use net offering proceeds to pay down $100
mln of term loans, and for working capital and general purposes
    ** RadNet has ~58.3 mln shares outstanding for ~$2 bln
market cap
    ** Jefferies and Raymond James leading the offering
    ** Through Tues close, RDNT up 75% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))