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Midas Medici to price public stock sale at $3.00 to $4.00 per share
Proceeds fund debt repayment, marketing initiatives, working capital
By Devika Patel
Knoxville, Tenn., Feb. 7 - Midas Medici Group Holdings, Inc. plans to price a public sale of stock, according to an S-1 filing made with the Securities and Exchange Commission on Tuesday. The deal will have a 45-day 15% greenshoe.
The company will sell 6 million common shares at a price that is expected to be between $3.00 and $4.00 per share.
Proceeds will be used to repay debt, increase long-term contracts, for acquisition and transaction costs, marketing initiatives, working capital and general corporate purposes.
The registration also covers 2,297,022 shares to be offered by selling stockholders in a secondary sale.
Midas is a New York-based provider of information technology solutions to commercial enterprises and government institutions in the United States and Brazil.
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