Emageon closes initial public offering
Emageon Inc. announced the closing of its initial public offering of 5 million shares of its common stock at a price of $13.00 a share. All of the shares were sold by Emageon. In addition, Emageon has granted to the underwriters a 30-day over-allotment option to purchase up to an additional 750,000 shares.
Total proceeds from the sale were approximately $58.5 million, Emageon said. The company said it plans to use the net proceeds of this offering to repay $4.0 million of its outstanding subordinated debt and for general corporate purposes, including working capital, research and development, sales and marketing, and capital expenditures. Emageon may also use a portion of the net proceeds for the acquisition of or investment in businesses, products and technologies that are complementary to its offerings.
Total proceeds from the sale were approximately $58.5 million, Emageon said. The company said it plans to use the net proceeds of this offering to repay $4.0 million of its outstanding subordinated debt and for general corporate purposes, including working capital, research and development, sales and marketing, and capital expenditures. Emageon may also use a portion of the net proceeds for the acquisition of or investment in businesses, products and technologies that are complementary to its offerings.