By Colin Kellaher
Shares of iCAD took flight in premarket trading Wednesday after the medical-technology company agreed to be acquired by diagnostic-imaging-services provider RadNet in a stock swap valued at about $103 million.
RadNet on Tuesday said it will issue 0.0677 shares, worth about $3.59 based on Tuesday's closing price of $53.08 for the Los Angeles company, for each share of iCAD.
The deal, slated to close in the second or third quarter, represents a roughly 86% premium to Tuesday's closing price of $1.93 for iCAD, based in Nashua, N.H.
ICAD shares were recently up 73% at $3.34 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 16, 2025 06:14 ET (10:14 GMT)
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