Health and Healthcare
Sun Healthcare Well-Served On Secondary Filing (SUNH)
Published:
Last Updated:
Sun Healthcare Group (NASDAQ: SUNH) has filed for a mixed shelfoffering of $200 million this morning. They may periodically offer a combinationof common stock, preferred stock, debt securities, and warrants. The prospectusindicates the rehabilitation center and hospice operator does not have currentplans to sell any of these securities. The proceeds will be used for generalcorporate purposes including working capital, capital expenditures, and businessacquisitions.
Yesterday, Sun Healthcare released strong first quarterearnings, showing a 74% increase in revenue to $458.2 million from $262.6million first quarter last year. Net income was $8.6 million compared to $3.9million last year.
Sun Healthcare is up $0.06 to $13.21 in early morningtrading. The 52-week range is $11.72 to $18.78. The market cap currently sitsat $566.7 million.
You can join our open email distribution list to hear about previews for other secondary offerings, mergers, spin-offs, break-ups, IPO’s, special financings, and other special situations.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
