Greenshoe takes IMAC offering to nearly $19M
Orthopedic treatments company IMAC Holdings has closed a successful stock offering after giving its investment banks the nod to add 1.6 million shares to the roughly 10 million it had already marketed to investors.
Exercising its over-allotment option, also called a greenshoe, pushed to $18.9 million the gross proceeds for Brentwood-based IMAC. CEO Jeff Ervin and his team plan to spend that money to buy or build out clinics — it has struck two deals in recent months — develop new treatments and buy back debt, among other things.
IMAC sold its shares for $1.60 apiece. On Tuesday afternoon, those shares (Ticker: IMAC) were changing hands at $1.67, up more than 2 percent on the day. Over the past six months, they have risen about 70 percent
Williamson County highest purchasing power in Tennessee
SmartAsset’s seventh annual study on areas with the greatest purchasing power in the U.S. compares cost-of-living data with median income ratios and finds Williamson to be the leading county in the state apropos of how much bang residents get for their buck.
Money goes further in Williamson County despite the county having the highest cost of living out of all Tennessee counties according to SmartAsset. At a mean $48,913, as compared to its median income of $112,962, Williamson led the top 10 with an even 100 on SmartAsset’s purchasing power index.
Eight of the other nine leaders reportedly share very similar metrics and range in purchasing power from 60.41 to 69.93. The other standout with the second greatest purchasing power of 71.73 was Wilson County with a median income of $75,991 against a $40,624-cost of living.
The rest were Moore, Rutherford, Sumner, Tipton, Robertson, Knox, Loudon and Blount Counties respectively. The state reportedly rests at an average median income of $53,320 and a cost of living of about $31,754.
e|spaces opens new location
Williamson County’s own e|spaces just opened a new space in Green Hills at 10 Burton Hills. This marks its third location in the county.
The new space is 20,000 square feet and contains elaborate conference rooms for up to 50 people. The space itself can host events for over 100 people yet also accommodates individuals and small teams with private offices.
“The Green Hills area is perfect for our model, and with the changing nature of workspace needs, we’re seeing an increased demand for flexible offices and meeting rooms,” e|spaces President Jon Pirtle said. “People are seeking environments to collaborate, to be around other professionals, to impress clients—and need reasonable rates without multi-year leases. e|spaces hits all of those marks.”
The Tennessee company provides affordable office spaces for up to a variable eight people with conference rooms for rent on an hourly basis similar to recording studios but on a membership basis. This follows e|spaces having just opened another location of over 30,000 square feet in Orlando as proliferation throughout Tennessee abounds.