Gentle Dental to Offer Shares
Times Wire Reports
YORBA LINDA —
Gentle Dental Service Corp. plans an offering of 3.6 million shares of common stock to raise funds to repay debt and finance acquisitions of other dental management practice companies, according to documents filed Friday with the Securities and Exchange Commission.
Gentle Dental said it will sell 3.5 million of the shares, and a shareholder will sell the remaining 100,000 shares.
The company plans to raise $27.5 million after expenses in the stock sale, if the shares sell for $9.42 each, their closing market price on Jan. 7, according to the SEC filing. The shares rose 38 cents Friday to close at $9.50.
In November, Gentle Dental acquired GMS Dental Group Inc. and moved its executive offices to Yorba Linda from Vancouver, Wash.
