Fully subscribed deal sells 1 million common shares at $2.00 per share
By Devika Patel
Knoxville, Tenn., May 9 - American CareSource Holdings, Inc. said it completed a $2 million fully subscribed non-brokered private placement of stock.
The company sold 1 million common shares at $2.00 apiece. The price per share is a 2.04% premium to the $1.96 closing share price on May 8.
"We are delighted to have closed this private placement, the proceeds of which we are immediately investing in our urgent care strategy," chairman and chief executive officer Dr. Richard W. Turner said in a press release.
The company recently announced its plans to acquire the assets of CorrectMed, including two urgent care centers in the Atlanta metro area. The proceeds from the private placement will facilitate this transaction.
Based in Dallas, American CareSource is a health care benefits management firm.
| Issuer: | American CareSource Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $2 million
|
| Shares: | 1 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | May 9
|
| Stock symbol: | Nasdaq: ANCI
|
| Stock price: | $1.96 at close May 8
|
| Market capitalization: | $11.65 million
|
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