NMR Centers Inc. said it filed with the Securities and Exchange Commission for a public offering of 575,000 shares of common stock issuable when warrants included in the company's initial public offering are exercised.
The Newport Beach-based company in November of 1985 completed its initial public offering of 575,000 units, each consisting of two shares of common stock and one warrant. As prescribed in that offering, those warrants can be exercised for $3.50 per share from this month until November, 1987, when the price will rise to $4.50 per share. The warrants expire in November of 1988.
Issuance of the additional common shares will give NMR, which operates specialized medical diagnostic centers, sufficient common shares to meet the warrant conversions.
In over-the-counter trading Wednesday, NMR closed at $8.375 per share, down 25 cents per share. The company currently has 6.4 million shares outstanding.