Virtual Radiologic raises $68M from IPO

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Virtual Radiologic has raised $68 million from its initial public offering (IPO) of 4 million shares of common stock at a price of $17 per share. In connection with the offering, certain selling stockholders granted the underwriters a 30-day option to purchase up to 600,000 shares of common stock at the initial public offering price, according to the company.
The Minnetonka, Minn.-based Virtual Radiologic said it intends to use the net proceeds from the offering to repay outstanding debt and for general corporate purposes.