ATLANTA — ExamWorks Group Inc., which provides independent medical examinations and other services for the insurance and legal industries, said Thursday that it and a mix of shareholders are offering $164.8 million in stock in an initial public offering.
The stock is being priced at the low end of the company’s previously announced range of $16 to $18 per share.
Overall, the Atlanta-based company and its shareholders are offering 10.3 million shares at $16 apiece. The company is offering about 7.7 million shares while selling shareholders are offering about 2.5 million. Meanwhile, the company granted underwriters a 30-day option to buy up to an additional 1.5 million shares to cover any excess demand.
The company expects its stock to begin trading as “EXAM” on the New York Stock Exchange on Thursday.
ExamWorks has said it expects net proceeds to the company of about $118.8 million and it will use most of it to repay debt.
Goldman Sachs, Credit Suisse and Barclays Capital are joint underwriters for the offering.