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news.IPC The Hospitalist Company has priced the public offering of 3.50 million shares of common stock to the public at $18.50 per share.
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The company has agreed to sell 1.13 million shares of common stock and the selling stockholders have agreed to sell the remaining 2.36 million shares of common stock.
The selling stockholders have also granted the underwriter an option for 30 days following the closing to purchase up to an additional 525,000 common shares to cover over-allotments, if any. The offering is expected to close on July 21, 2008, subject to customary closing conditions.
Credit Suisse Securities (US) and Jefferies & Company acted as joint book-running managers for the offering. William Blair & Company, Deutsche Bank Securities, and Wachovia Capital Markets, acted as co-managers for the offering.