ROCHESTER—OptimizeRx Corp. (Nasdaq: OPRX), the Rochester-based provider of digital communication services for pharmaceutical companies to patients and healthcare providers, has announced a proposed underwritten public offering of shares of its common stock.
The company sold 1,538,500 shares of its common stock at a price of $13 per share.
The proceeds of the offering, before deducting underwriting discounts, commissions, and offering expenses, are expected to be $20 million.
A company press release said the proceeds of the offering will be used for general corporate purposes, which may include future acquisitions. The company does not have any immediate arrangements, commitments or understandings regarding any future acquisitions, the release stated.
In connection with the offering, OptimizeRx granted the underwriters a 30-day option to purchase up to an additional 230,775 shares of stock at the offering price.
William Blair & Co. L.L.C. is acting as manager for the offering.
The company filed a shelf registration authorizing it to sell more stock with the U.S. Securities and Exchange Commission Nov. 13, and the SEC declared it effective Dec. 11.
OptimizeRx posted revenue of $21.2 million in 2018, and neet income of $226.344. In the first quarter of 2019, the company reported net income of $6,529 on revenue of $5.2 million, compared to a loss of $189,179 on revenue of $4.1 million in the first quarter of 2018.
OptimizeRx provides messaging to connect pharmaceutical companies to patients and providers, which has been shown to improve medication affordability, increase patient adherence to prescriptions, and promotes brand awareness. OptimizeRx provides the messaging through electronic health records systems such as Allscripts, Amazing Charts and Quest, and directly via its mobile communications platform.
This story was published by ESD’s Technology Century.