HealthStream (HSTM) Closes 3.25 Million Share Common Stock Offering

HealthStream, Inc. (NASDAQ: HSTM), announced today that it has closed its previously announced public offering of 3,250,000 shares of its common stock, consisting of 3,100,000 shares sold by the Company and 150,000 shares sold by certain selling shareholders at a price of $16.25 per share. In addition, the underwriters fully exercised their 30-day overallotment option to purchase an additional 487,500 shares from the Company, resulting in a total sale of 3,737,500 shares. William Blair & Company, L.L.C. served as the sole book-running manager of the public offering, and Avondale Partners, LLC and Craig-Hallum Capital Group, LLC served as co-managers of the public offering.

The net proceeds to the Company of the public offering after deducting underwriting discounts and commissions and estimated expenses were approximately $55.2 million. The Company intends to use the net proceeds from the public offering for working capital and general corporate purposes and/or to acquire or invest in strategic businesses, products, or technologies. The Company did not receive any proceeds from the sale of shares made by the selling shareholders.

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