MRI accessories company IRadimed has set the price for its initial public offering (IPO) at $6.25 per share of its common stock.
The company plans to make available some 2,016,000 shares for a total offering amount of $12.6 million before expenses. Underwriters have also been granted a 45-day option to purchase up to an additional 302,400 shares of common stock at the IPO price solely to cover any overallotments.
The shares are expected to begin trading on the Nasdaq Capital Market beginning July 16 under the symbol IRMD. The closing of the offering is expected to occur on July 21, subject to customary closing conditions, according to IRadimed. Roth Capital Partners is acting as sole book-running manager for the offering, with Monarch Capital Group serving as co-manager.
