NightHawk Issues IPO for 6.3M Shares

NightHawk Radiology Holdings Inc., a teleradiology services group, recently announced that it has issued an initial public offering of 6,300,000 shares of common stock sold at $16 per share, as the Australian-based company begins trading on the Nasdaq National Market.
Of the 6.3 million shares, NightHawk will sell 5,800,000 shares, and entities affiliated with Summit Partners will sell 500,000 shares. Designated selling shareholders have granted the underwriters an over-allotment option to purchase up to an additional 945,000 shares.
NightHawk will receive net proceeds of approximately $84.3 million from the offering, which it intends to use to repay outstanding debt and for general corporate purposes.