Emageon prices initial public offering

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Emageon Inc. announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a price of $13 a share. All of the shares are being sold by Emageon. In addition, Emageon has granted to the underwriters a 30-day over-allotment option to purchase up to an additional 750,000 shares.
Emageon's proceeds from the offering are expected to be approximately $58.45 million, or $67.52 million if the underwriters exercise their over-allotment option in full, after deducting the underwriting discounts and commissions and the estimated offering expenses, the company said. Emageon said it plans to use the net proceeds of the offering to repay $4.0 million of its outstanding subordinated debt and for general corporate purposes, including working capital, research and development, sales and marketing, and capital expenditures. Emageon may also use a portion of the net proceeds for the acquisition of or investment in businesses, products and technologies that are complementary to its offerings.