Chindex International Inc. (NASDAQ: CHDX) is seeing shares under pressure this morning after it filed last night for a secondary offering of up to $100 million. The filing is for the company to sell shares of common stock, warrants, and rights. Some will come from the company and some may be sold by shareholders.
No underwriters have yet been named according to the preliminary prospectus. Chindex is US-based, but primarily operates in China and Hong Kong.
The company put the use of funds that will receive for general corporate purposes, including expansion of our Healthcare Services and Medical Products divisions. The company will not receive any proceeds from shares being sold by existing shareholders.
You can join our open email distribution list to hear about other break-ups, IPO’s, secondary offerings, special financings, mergers, spin-offs, and other special situations.
Shares are down over 4% in early trading at $20.96 and its 52-week trading range is $10.17 to $29.20. The current market cap is about $261 million.
Jon C. Ogg
May 14, 2008
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.