Merge Healthcare Incorporated (MRGE) decided to raise up to $27.3 million in gross proceeds, before placement agency fees and other expenses, by offering 9,084,032 shares of the company’s common stock at a purchase price of $3.00 per share. The offer is only for select institutional investors and is expected to close on Nov. 18, 2009. Merge will use the proceeds primarily to prepay in full its senior secured notes held by Merrick RIS, L.L.C. due June 2010. The remaining amount will be used for general corporate purposes like the working capital financing. William Blair & Company, L.L.C. is the lead placement agent for the fund raising offer. Craig-Hallum Capital Group LLC and Robert W. Baird & Co. Incorporated are the co-placement agents for the offering. Merge is a healthcare software and services company focused on integrating radiology workflow to improve productivity, profitability and patient care ...