RadNet Announces Pricing of Public Offering of Common Stock

LOS ANGELES, March 07, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, announced today the pricing of its underwritten public offering of 4,550,000 shares of its common stock at a price to the public of $44.00 per share. The gross proceeds to RadNet from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $200 million. In addition, RadNet has granted the underwriters a 30-day option to purchase up to an additional 682,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about March 12, 2024, subject to satisfaction of customary closing conditions.

RadNet intends to use the net proceeds from the proposed offering for general corporate purposes and future acquisitions.

Jefferies and Raymond James are acting as joint active book-running managers for the offering. Truist Securities and Barclays are also acting as joint book-running managers for the offering. RBC Capital Markets, Sidoti & Company, LLC and CJS Securities are acting as co-managers for the offering.

The securities described above are being offered by RadNet pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (“SEC”). When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at [phone] or by email at [e-mail]; or from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at [phone], or by email at [e-mail]. Electronic copies of the preliminary prospectus supplement and accompanying prospectus were filed with the SEC and are available on the website of the SEC at http://www.sec.gov.