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Digirad closes $5m offering

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DigiradDigirad (NSDQ:DRAD) announced that it closed an underwritten public offering of common stock with proceeds expected to reach approximately $5 million.

The offering includes more than 2.2 million shares of common stock and warrants to purchase up to more than 1.1 million shares. Each share of common stock is sold together with one common warrant to purchase 0.5 shares at $2.25 per share and warrant.

Warrants included in the offering will expire five years from the date of issuance, and were only capable of being purchased together with common stock, but were issued separately. Suwanee, Ga.-based Digirad ex

Maxim Group, which acted as sole book-running manager for the offering, was granted a 45-day option to purchase up to an additional 225,000 shares of common stock and/or 225,000 common warrants to purchase up to 112,500 shares. Maxim Group partially exercised that option, according to a news release.

Digirad did not announce an intended use of proceeds. The company’s healthcare division designs, manufactures and distributes imaging products within diagnostic services, mobile healthcare and diagnostic imaging.

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