Quality Systems’ Offer
TUSTIN — Quality Systems Inc., which makes computer systems used to automate medical and dental offices, raised about $21 million in a secondary stock offering Wednesday.
The Tustin company sold 1 million shares of common stock at $22.25 per share, then watched as the stock price climb another $1.75 to close the day at $24.50 per share in Nasdaq trading.
Proceeds of the sale will be used to finance the previously announced acquisition of Clinitec International Inc., a medical records software company, as well as for general corporate purposes, said Sheldon Razin, chief executive of Quality Systems.
Razin also led a group of shareholders who sold an additional 500,000 shares of Quality Systems stock. Razin sold 451,000 of his own shares, pocketing about $10 million.
Wednesday’s stock sale boosted the number of outstanding Quality Systems shares to 5.65 million.
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