Core Inc. Files to Sell Shares
IRVINE — Core Inc., a provider of benefits management services, said it plans to sell 2.5 million shares of common stock.
The company said it expects the sale to raise about $34.5 million after expenses, according to a registration statement filed Monday with the Securities and Exchange Commission.
Core would use about $15.7 million to finance the acquisition of AmHealth Inc., which has a network of nine occupational health clinics and on-site medical facilities. Core would devote the remaining proceeds to expansion of its operating capacity and other working capital needs.
Smith Barney Inc. and Cowen & Co. are slated to underwrite the stock sale for Core, which will have 7.33 million shares outstanding after the offering.
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