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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Digirad IPO: San Diego firm plans to use the approximately $59.7 mil. in proceeds from June 9 initial public offering to expand its nuclear cardiology business and solid-state gamma camera leasing service, rebuild its sales and marketing capabilities and repay about $9.4 mil. in debt. The offering consists of 5.5 mil. shares priced $12 each. Digirad owes Silicon Valley Bank roughly $4.8 mil. and GE Healthcare Financial Services $4.5 mil. (1"The Gray Sheet" March 29, 2004, p. 15). Joint managers for the offering were Merrill Lynch, JP Morgan Securities and Pierce, Fenner & Smith; Banc of America Securities and William Blair & Company are acting as co-managers. Digirad is listed on Nasdaq as "DRAD"...
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