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.
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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