Cardiff Lexington, which is holding company focused on acquiring business primarily in the healthcare sector, raised the proposed deal size for its upcoming IPO on Thursday.
The Lexington, KY-based company now plans to raise $6 million by offering 1.2 million shares at a price of $5. The company had previously filed to offer 1.5 million shares at a price of $4. At the revised terms, Cardiff Lexington will raise the same amount in proceeds than previously anticipated and command a market cap of $83 million (+27% versus previous terms).
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.
