RadPartners is desperately trying to raise capital to pay off its debts via another round of equity funding (i.e. creating and selling new shares of preferred stock).
If successful, this would dilute the value of shares held by current shareholders (historically, ~40% of the company was owned by current or former RP radiologists). In reality, I have a tough time imagining any large investors putting enough good money into something predicted to go bankrupt within the next two years to shift the course of the Titanic.
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I hope they go IPO so I can short them. I’ve never seen a more clearcut case of a non-viable business model. The canary in the coal mine will be when high level execs start leaving. Once that starts happening, you know their goose is cooked!
No IPO is forthcoming, but they’ve already had substantial executive turnover. The most recent is the SVP of Operations for the Midwest Area, who is leaving July 14.