Olshan Represents Digirad Corporation in $5 Million Public Offering of Common Stock and Warrants
Olshan represented Digirad Corporation in its $5.0 million underwritten public offering of 2,225,000 shares of its common stock and warrants to purchase up to 1,112,500 shares of its common stock, which closed on May 28, 2020. Digirad’s common stock trades on the Nasdaq Global Market under the symbol DRAD, and its warrants are not listed for trading. The sole book-running manager for the offering was Maxim Group LLC. Digirad Corporation is a diversified holding company with three operating divisions: healthcare, building and construction, and real estate and investments. At least $3 million of the net proceeds of the offering will be used for commercial building projects of Digirad’s building and construction division, with the remaining proceeds being used for working capital and general corporate purposes. The Olshan team that handled the deal received assistance from Louis Marasco. More information about the pricing of the offering can be found here, and information regarding the closing of the offering can be found here.