 |
As of Dec. 31, American Dental was affiliated with 25 dental group practices in 18 states. (Lancaster New Era via Associated Press) |
MASS. MOVERS
Wakefield-based American Dental Partners Inc. said it expects to raise at least $25.3 million by selling 2.26 million new shares. But that may dilute the value of existing equity. The shares fell the most since Nov. 20. American Dental, a provider of management services for dental practices, also said it has commitments from lenders for a $130 million senior secured credit facility. The company priced the stock offering at $12 per share, an 8.4 percent discount to its closing price on Tuesday. Both the stock offer and the senior credit facility are expected to close tomorrow.
© Copyright 2009 Globe Newspaper Company.
