IPC-The Hospitalist Co. plans an initial public offering worth $83.2 million expected to close Jan. 30, the company announced.
The North Hollywood, Calif.-based provider of hospitalist services will offer 5.2 million shares of common stock for $16 per share. The company is selling 3.3 million shares, and stockholders have agreed to sell their 1.9 million shares. IPC will trade on the Nasdaq Global Market under the symbol IPCM.
In September 2007, the company announced an IPO of $105 million. According to a prospectus filed Jan. 25 with the Securities and Exchange Commission, the current stock share information reflects a 1-for-6.4 reverse stock split, which became effective Jan. 11.
IPC, which employs more than 550 hospitalists, provides them with management systems, information technology, training and administrative support. -- Jean DerGurahian/ HITS staff writer
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