AmSurg has announced public offerings of 8.5 million shares of its common stock at $45 per share and 1.5 million shares of its 5.25 percent mandatory convertible preferred stock, a total of 10 million shares, according to a Street Insider report.
The convertible stock, set to covert to common stock in July 2017, is being sold at $100 per share, according to a Nashville Post report.
AmSurg intends to use the proceeds from the two public offerings, as well as cash and debt financing, to bank roll its $2.35 billion acquisition of Sheridan Healthcare.
As of Tuesday afternoon, AmSurg shares were down 2 percent to $48.96, but year-to-date the shares are up nearly 7 percent, according to the Nashville Post report.
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The convertible stock, set to covert to common stock in July 2017, is being sold at $100 per share, according to a Nashville Post report.
AmSurg intends to use the proceeds from the two public offerings, as well as cash and debt financing, to bank roll its $2.35 billion acquisition of Sheridan Healthcare.
As of Tuesday afternoon, AmSurg shares were down 2 percent to $48.96, but year-to-date the shares are up nearly 7 percent, according to the Nashville Post report.
More Articles on Transactions and Valuation Issues:
14 ASC Industry Acquisition Agreements in 2014
How to Increase the Value of Your ASC
Medical Facilities Corporation Announces June Dividend