Lumexa Imaging Holdings (LMRI) priced its IPO at $18.50 – the mid-point of its $17.00-to-$20.00 price range – and sold 25 million shares – the number of shares in the prospectus – to raise $462.5 million on Wednesday night, Dec. 10, 2025. At pricing, Lumexa had a market cap of $1.75 billion.
Lumexa’s stock opened at $18.65 – up 15 cents from its IPO price – in its NASDAQ debut at 12:59 p.m. EST on Thursday, Dec. 11, 2025. Volume on the first trade: 1.26 million shares. At the closing bell, Lumexa’s stock was at $18.52 – up just 2 cents – in its first day of NASDAQ trading on volume of about 6.65 million shares.
Barclays, J.P. Morgan and Jefferies served as the lead joint book-runners.
As of Sept. 30, 2025, Lumexa Imaging and its affiliates operated the second-largest outpatient imaging center footprint in the United States. It spans 184 centers across 13 states and includes eight joint venture partnerships with health systems.
RadNet (RDNT), the largest U.S. provider of freestanding outpatient diagnostic imaging services, with about 400 centers, was trading today (Wednesday, Dec. 10, 2025) at around $77.69 – near a 52-week high – and that helped increase interest in Lumexa, the IPO pros say.
Lumexa Imaging Holdings (LMRI), based in Raleigh, North Carolina, describes itself as a nationwide provider of diagnostic imaging services that include MRIs, CTs, PET scans, X-rays, ultrasounds and mammograms. The company was founded in 2018 by Charlotte Radiology and Welsh, Carson, Anderson & Stowe, a private equity firm that specializes in investments in private companies in the healthcare and tech sectors. (Incorporated in Delaware)
Paying Down Some Debt
The company estimated net IPO proceeds at about $427 million, the prospectus said.
Lumexa expects to use some of the IPO proceeds to pay down some debt, the prospectus said.
After the IPO, Lumexa’s officers and directors, along with private equity firm Welsh, Carson, Anderson & Stowe, will still control about 31 percent of Lumexa’s outstanding common stock.
Financial Snapshot: Net loss of $43.57 million on revenue of $1 billion for the 12 months that ended Sept. 30, 2025
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading.