Published on March 22, 2010 at 6:07 AM
RadNet, Inc. (Nasdaq:RDNT), a national leader in providing high-quality, fixed-site outpatient diagnostic imaging services through a network of 180 imaging centers, today announced that its wholly-owned subsidiary Radnet Management, Inc. (the "Issuer") intends to offer $210 million in aggregate principal amount of senior notes due 2018 (the "Notes") to qualified institutional buyers in a private placement that will be exempt from the registration requirements of the Securities Act of 1933, as amended and subject to market and other conditions.
The Notes will be issued by the Issuer and guaranteed jointly and severally on a senior basis by the Company and all of the Issuer's current and future wholly-owned domestic restricted subsidiaries.
The Company intends to use the net proceeds from the private placement, together with borrowings under its previously announced new senior secured credit facilities to refinance existing credit facilities, fund its previously announced acquisitions currently under letters of intent and pay related fees and expenses. Entry into the senior secured credit facilities and the proposed offering of the Notes will be conditioned on each transaction being consummated, and there is no assurance that the proposed financing transactions will be effectuated on the terms presented, or at all.
Source RadNet, Inc.
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