Lantheus Medical Imaging prices $40m offering

Lantheus Medical Imaging (NSDQ:LNTH) last week priced a new $40 million offering, with funds slated to pay down approximately $55 million of the outstanding principal balance under its senior secured credit facilities.

In the round, North Billerica, Mass.-based Lantheus will look to float 5.2 million shares of common stock at $7.76 per share, according to an SEC filing.

Credit Suisse and Jefferies LLC will act as underwriters in the offering, according to a company press release.

In August, Lantheus said it is sold its Australian radiopharmacy servicing business to Global Medical Solutions.

As part of the deal, Lantheus and GMS entered into a long-term supply and distribution contract, with Lantheus supplying GMS and its affiliates with its products, with associated product purchase commitments.

The deal includes Lantheus radiopharmacy servicing businesses across Australia which prepare individual doses of single photon emission computed tomography-based radiopharmaceuticals.

Lantheus said it appointed GMS as a distributor of its radiopharmaceuticals, including nuclear medicine products and cold kits, in Australia and other international markets GMS covers.

In January, Lantheus said it sold its radiopharmacy and Canadian Gludef manufacturing and distribution businesses to Isologic Radiopharmaceuticals for $9m.

As part of the sale, Lantheus and Isologic inked a long-term supply deal which positions Lantheus to supply Isologic with its products on commercial terms, with a set of product purchase commitments included.

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