13 Nov Merge Healthcare sells additional 9 million shares
Merge Healthcare plans to sell an additional 9 million shares of common stock in a registered direct offering to select institutional investors at a purchase price of $3.00 per share. Merge expects to enter into definitive agreements with respect to this offering later today.
The company’s share price dropped to $3.01 midday Friday from its previous day close of $3.60.
Merge expects proceeds of the sale to net about $25 million, using more than $18 million from the sale to repay debt held by Merrick RIS, which owns about 43% of Merge’s shares outstanding
Merge Healthcare develops software solutions that automate healthcare data and diagnostic workflow to create a more comprehensive electronic record of the patient experience.