Catasys, which provides substance abuse, depression and anxiety outpatient programs, announced terms for its IPO on Monday.
The Los Angeles, CA-based company plans to raise $15 million by offering 1.8 million shares at a price of $8.40. At the proposed price, Catasys would command a fully diluted market value of $94 million.
Catasys was founded in 2003 and booked $7 million in sales for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol CATS. Joseph Gunnar & Co. is the sole bookrunner on the deal. It is expected to price during the week of April 24, 2017.
