IntegraMed America (INMD) Prices 2.5M Common Offering at $7.50/Share
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IntegraMed America, Inc. (NASDAQ: INMD) today announced that it has priced a public offering of 2,500,000 shares of its common stock at a price to the public of $7.50 per share, of which 2,000,000 shares are being offered through the underwriters named below and 500,000 shares are being offered directly by IntegraMed to IAT Reinsurance Company Ltd., IntegraMed's largest stockholder.
The approximately $17 million of net proceeds, after deducting underwriting discounts, commissions and expected offering expenses payable by IntegraMed, are intended to be used to accelerate the addition of new partner fertility centers, to accelerate the pace of new vein clinic openings in 2010, or for general working capital and other corporate purposes. The offering is expected to close on or about February 18, 2010, subject to the satisfaction of customary closing conditions.
The underwriters have been granted a 30-day option to purchase up to an additional 300,000 shares to cover over-allotments, if any.
Piper Jaffray & Co. acted as book-running manager and Dougherty & Company LLC acted as co-manager for the offering.
The approximately $17 million of net proceeds, after deducting underwriting discounts, commissions and expected offering expenses payable by IntegraMed, are intended to be used to accelerate the addition of new partner fertility centers, to accelerate the pace of new vein clinic openings in 2010, or for general working capital and other corporate purposes. The offering is expected to close on or about February 18, 2010, subject to the satisfaction of customary closing conditions.
The underwriters have been granted a 30-day option to purchase up to an additional 300,000 shares to cover over-allotments, if any.
Piper Jaffray & Co. acted as book-running manager and Dougherty & Company LLC acted as co-manager for the offering.
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