iCAD, Inc. Announces Closing of Underwritten Public Offering of Common Stock

  iCAD, Inc. Announces Closing of Underwritten Public Offering of Common Stock

Business Wire

NASHUA, N.H. -- March 17, 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 closed
its previously-announced registered firm commitment underwritten public
offering of 2,760,000 shares at a price to the public of $11.00 per share. The
number of shares sold in the offering includes the underwriter’s full exercise
of the over-allotment option to purchase 360,000 common shares. iCAD estimates
net proceeds from the offering to be approximately $28.2 million, after
deducting underwriting discounts and estimated offering expenses. iCAD intends
to use the proceeds from the offering for working capital and other general
corporate purposes.

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

A shelf registration statement relating to these securities was previously
filed with, and declared effective by, the U.S. Securities and Exchange
Commission on September 30, 2011. A preliminary prospectus supplement related
to the offering was filed with the U.S. Securities and Exchange Commission on
March 5, 2014. A final prospectus supplement related to the offering was filed
with the U.S. Securities and Exchange Commission on March 12, 2014. Copies of
the final prospectus supplement and accompanying prospectus for the offering
may be obtained by contacting Craig-Hallum Capital Group LLC, 222 South Ninth
Street, Suite 350, Minneapolis, MN 55402, or by calling 612-334-6300. An
electronic copy of the final prospectus supplement and accompanying prospectus
relating to the offering is available on the website of the U.S. Securities
and Exchange Commission at www.sec.gov.

This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any offer or sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws
of such 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® Axxent ® Electronic Brachytherapy 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, cervical 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:

For iCAD investor relations
LHA
Anne Marie Fields, 212-838-3777 x6604
afields@lhai.com
 
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