American Dental finishes refinancing, stock offer
WAKEFIELD - American Dental Partners Inc., a provider of business services to dental group practices, said it refinanced $130 million in credit agreements, and completed a stock sale that raised $25.3 million.
The company announced the plan to sell 2.3 million shares at $12 each on Wednesday, and also said it had received commitments from lenders for the new senior secured credit facility. It said the stock sale and some of the funds would be used to pay back its previous borrowings.
In afternoon trading, shares of American Dental Partners rose 30 cents, or 2.5 percent, to $12.39.