Soc Telemed Inc logo

TLMD - Soc Telemed Inc News Story

$1.92 -0.0  -2.0%

Last Trade - 02/12/21

Sector
Healthcare
Size
Small Cap
Market Cap £148.9m
Enterprise Value £176.2m
Revenue £93.7m
Position in Universe 4843rd / 7292

BUZZ-SOC Telemed drops on planned equity raise

Tue 25th May, 2021 3:04pm
**  SOC Telemed Inc  TLMD.O  shares down 9.2% at $6.81 as co
looks to raise equity
    ** Telemedicine provider late Mon announced 8 mln share
offering  urn:newsml:reuters.com:*:nPnbNjJmja
    ** Co plans to use net offering proceeds to repay debt and
borrowings to fund recent acquisition of Access Physicians,
remainder for working capital and general corp purposes
    ** Credit Suisse, William Blair and Guggenheim jt
bookrunners for offering, which is slated to price Weds AMC
    ** Upon offering completion, PE firm Warburg Pincus will own
~34% of TLMD
    ** Co has ~90.5 mln shares outstanding for ~$680 mln market
cap as of Mon close, per Refinitiv data, and ~43.56 mln of free
float
    ** With move on Tues, stock down 13% in 2021
    ** TLMD went public last year after co in July agreed to
$720 mln SPAC deal with Healthcare Merger Corp  urn:newsml:reuters.com:*:nPn7zK8Dja

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))
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