On Nov. 30, AmSurg proposed an underwritten public offering of 5.5 million shares of its common stock.
Here are five key points:
1. The company plans to use the net proceeds from the offering to repay outstanding indebtedness under its revolving credit facility borrowed to fund its recent acquisition.
2. AmSurg also intends to use the net proceeds to fund a portion of the nearly $500 million of acquisition opportunities in its pipeline. The acquisitions are currently under letter of intent and targeted to close between now and the end of the first quarter of 2016.
3. The company will allocate the remaining proceeds for other general corporate purposes.
4. Additionally, the company plans to provide the underwriters a 30-day option to buy up to an additional 825,000 shares of its common stock.
5. For the offering, SunTrust Robinson Humphrey and J.P. Morgan will act as lead joint book-running managers. BMO Capital Markets, Jefferies and Guggenheim Securities will undertake the role of joint book-running managers.
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