HealthStream executives have filed papers with regulators to sell up to $225 million of new shares in the health care workforce development company. Proceeds from the offering would be used for general corporate purposes, which may include potential acquisitions, capital expenditures and investments, according to Mollie Condra, HealthStream vice president of investor relations and communications.
The company's shelf filing amounts to just under a third of its current market value of $730 million. Prior to Monday's filing, HealthStream most recently filed to sell up to $75 million worth of new shares in mid-2011, a quarter of the company's then-market value. Later that year, the company raised $55 million.
Shares of HealthStream (Ticker: HSTM) were down slightly Tuesday afternoon to $26.50. Year to date, they're down nearly 19 percent.
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