Cardiff Lexington, which is holding company focused on acquiring business primarily in the healthcare sector, announced terms for its IPO on Tuesday.
The Lexington, KY-based company plans to raise $6 million by offering 1.5 million shares at a proposed price of $4. At the proposed deal size, Cardiff Lexington would command a market cap of $65 million.
Cardiff Lexington is a healthcare-focused holding company that acquires and builds middle-market niche clinics, with an emphasis on orthopedics, spine care, and pain management. Its operating subsidiaries include Nova, which operates regional specialty and ancillary care facilities in Florida and Georgia serving traumatic injury patients, and Edge View, a real estate subsidiary holding undeveloped land in Idaho.
Cardiff Lexington was founded in 1986 and plans to list on the Nasdaq under the symbol CDIX. R.F. Lafferty & Co. is the sole bookrunner on the deal.
