MDxHealth Secures $40 Million in Latest Share Offering
MDxHealth Completes Pricing for Share Offering
MDxHealth SA (NASDAQ: MDXH), a prominent player in precision diagnostics, has successfully priced its recent registered public offering of ordinary shares. The company is set to offer 20 million shares at a price of $2.00 each, aiming to generate total gross proceeds of $40 million before deducting related expenses. This capital infusion is expected to enhance the company's growth trajectory and expand its operational capabilities.
Investment Details and Strategic Partnerships
A notable aspect of this share offering is that a strategic partner has agreed to purchase 1.5 million ordinary shares directly from MDxHealth, highlighting the confidence in the company's potential. Additionally, the arrangement allows underwriters an option to acquire an additional 2.775 million shares under the same conditions, providing further flexibility for the offering.
Use of Proceeds
The proceeds from this offering are earmarked for various essential corporate functions including product development and commercial strategies. By allocating funds towards these key areas, MDxHealth aims to enhance its market position and deliver value to shareholders.
Expected Closing and Regulatory Framework
The company anticipates closing the offering shortly, contingent upon fulfilling customary conditions. The newly issued ordinary shares will carry the same rights and obligations as existing shares, ensuring fairness in dividend entitlements and overall shareholder benefits.
Working with Leading Financial Institutions
MDxHealth is collaborating with top investment firms TD Cowen and William Blair, who are acting as joint book-running managers for this offering. Furthermore, BTIG, LLC and Lake Street Capital Markets will serve as passive bookrunners, ensuring a smooth execution of the offering.
Filing and Compliance with Regulatory Bodies
The share offerings are in accordance with a registration statement filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement has been filed and is readily available, ensuring that interested parties can stay informed about the offering details.
Contact Information for Inquiries
For any further inquiries or to request additional material regarding the offering, stakeholders and interested parties can reach out directly to MDxHealth. They can be contacted via email at info@mdxhealth.com. Additionally, LifeSci Advisors, who handle investor relations and public relations for MDxHealth, can be contacted at +1 949 271 9223 or through their email at ir@mdxhealth.com.
Frequently Asked Questions
What is the purpose of MDxHealth's recent share offering?
The funds raised will primarily support product development and general corporate activities.
How much money does MDxHealth aim to raise through this offering?
The company aims to raise a total of $40 million from the sale of ordinary shares.
Who are the investment firms involved in this offering?
TD Cowen and William Blair are acting as joint book-running managers, while BTIG, LLC and Lake Street Capital Markets are serving as passive bookrunners.
When is the expected closure of the share offering?
The offering is expected to close soon, pending customary closing conditions.
How can investors include MDxHealth in their portfolio?
Investors interested in MDxHealth can purchase shares during this offering or purchase existing shares through the stock market once the offer is complete.
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