iCAD, Inc. Announces Pricing of 2,400,000 Share Public Offering of Common Stock

  iCAD, Inc. Announces Pricing of 2,400,000 Share Public Offering of Common
  Stock

Business Wire

NASHUA, N.H. -- March 12, 2014

iCAD, Inc. (“iCAD”) (NASDAQ: ICAD), an industry-leading provider of advanced
image analysis, workflow solutions and radiation therapy solutions for the
early identification and treatment of cancer, today announced it has priced a
registered firm commitment underwritten public offering of 2,400,000 shares of
its common stock at a price to public of $11.00 per share. In addition, iCAD
has granted the underwriter a 30-day option to purchase up to 360,000
additional shares of common stock to cover over-allotments, if any. The
offering is expected to close on or about March 17, 2014, subject to
satisfaction of closing conditions.

The total gross proceeds of the offering are expected to be approximately
$26.4 million. After deducting the underwriter’s discount and other estimated
offering expenses payable by iCAD, the net proceeds are expected to be
approximately $24.5 million. These amounts assume no exercise of the
underwriter’s over-allotment option. The Company intends to use the net
proceeds of the offering for working capital and other general corporate
purposes.

Craig-Hallum Capital Group LLC acted as sole managing underwriter for the
offering.

A registration statement relating to shares of the common stock of iCAD has
been declared effective by the Securities and Exchange Commission on September
30, 2011. This offering is being made by iCAD by means of a written prospectus
supplement forming part of the effective registration statement. A copy of the
final prospectus supplement for the offering may be obtained from Craig-Hallum
Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, MN 55402,
phone number (612) 334-6300.

This press release shall not constitute an offer to sell, or the solicitation
of an offer to buy, nor may there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction.

About iCAD, Inc.:

iCAD is an industry-leading provider of advanced image analysis, workflow
solutions and radiation therapy solutions for the early identification and
treatment of cancer. iCAD’s Xoft System offers radiation treatment for
early-stage breast cancer that can be administered in the form of
intraoperative radiation therapy or accelerated partial breast irradiation.
The Xoft System is also cleared for the treatment of non-melanoma skin cancer
and endometrial cancer. iCAD offers a comprehensive range of high-performance,
upgradeable CAD solutions for mammography and advanced image analysis and
workflow solutions for Magnetic Resonance Imaging, for breast and prostate
cancers and Computed Tomography for colorectal cancer.

For more information, call 877-iCADnow, or visit www.icadmed.com.

Contact:

iCAD Investor Relations
Anne Marie Fields,212-838-3777 x6604
afields@lhai.com
 
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