Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Principal Trading Market
Our common stock is quoted on the NASDAQ Global Market under the symbol “RDNT”.
Holders
As of February 23, 2023, the number of holders of record of our common stock was 1,136.
Dividends
We have never declared or paid cash dividends on our capital stock and we do not expect to pay any dividends in the foreseeable future. We currently intend to retain future earnings, if any, to finance the growth and development of our business. Our current credit facilities place restrictions on our ability to issue dividends. See discussion under “Liquidity and Capital Resources” regarding our current credit facilities. Payment of future dividends, if any, will be at the discretion of our board of directors and will depend on our financial condition, results of operations, capital requirements and such other factors as the board of directors deems relevant.
Stock Performance Graph
The following graph compares the yearly percentage change in cumulative total stockholder return of our common stock during the period from 2017 to 2022 with (i) the cumulative total return of the S&P 500 index and (ii) the cumulative total return of the S&P 500 – Healthcare Sector index. The comparison assumes $100 was invested on December 29, 2017 in our common stock and in each of the foregoing indices and the reinvestment of dividends through December 30, 2022. The stock price performance on the following graph is not necessarily indicative of future stock price performance.
This graph shall not be deemed incorporated by reference by any general statement incorporating by reference this Form 10-K into any filing under the Securities Act or under the Exchange Act, except to the extent that RadNet specifically incorporates this information by reference, and shall not otherwise be deemed filed under the Securities Act or the Exchange Act.
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ANNUAL RETURN PERCENTAGE
Years Ending
Company / Index 12/31/18 12/31/19 12/31/20 12/31/21 12/30/22
RadNet, Inc. 0.69 99.61 (3.6) 53.86 (37.46)
S&P 500 Index (4.38) 31.49 18.4 28.71 (18.11)
S&P Health Care Sector 6.47 20.82 13.45 26.13 (1.95)
Base INDEXED RETURNS
Years Ending
Period
Company / Index 12/29/17 12/31/18 12/31/19 12/31/20 12/31/21 12/30/22
RadNet, Inc. 100 100.69 200.99 193.76 298.12 186.44
S&P 500 Index 100 95.62 125.72 148.85 191.58 156.88
S&P Health Care Sector 100 106.47 128.64 145.93 184.07 180.47
Recent Sales of Unregistered Securities
On November 1, 2022, we acquired a 75% controlling interest in Heart and Lung Imaging Limited in part by issuing 359,002 shares at $19.06 per share with a fair value of $6.8 million. The shares of common stock were issued to the four holders of the outstanding equity of Heart and Lung Imaging Limited. The shares were issued without registration on the basis of the exemption for private placement transactions provided by Section 4(a)(2) of the Securities Act.
Item 6. Reserved
Not Required.
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