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AmSurg plans to repay revolver debt with funds from stock offering
By Marisa Wong
Morgantown, W.Va., Nov. 30 – AmSurg Corp. intends to repay outstanding debt under its revolving credit facility using proceeds from a public offering of common stock, according to a press release.
Borrowings under the revolver were used to fund recent acquisitions, the release noted.
AmSurg is proposing to sell 5.5 million shares of common stock with a greenshoe for 825,000 additional shares.
Proceeds from the stock sale will also be used to fund a portion of the roughly $500 million of acquisition opportunities in its pipeline targeted to close between now and the end of the first quarter of 2016.
AmSurg is a Nashville-based acquirer, developer and operator of ambulatory surgery centers in partnership with physicians.
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