$480,000 greenshoe fully exercised; Roth Capital was the underwriter
By Devika Patel
Knoxville, Tenn., June 13 - Adept Technology, Inc. said it settled a $3.68 million public offering of stock. The offering was announced May 21 and priced for $3.2 million with a $480,000 greenshoe on June 8.
The company sold 920,000 common shares at $4.00 per share. The price per share reflects a 0.74% discount to the June 7 closing share price of $4.03.
Of the shares, 120,000 were part of the fully exercised greenshoe.
Roth Capital Partners, LLC was the underwriter.
Proceeds will be used for general corporate purposes.
Based in Livermore, Calif., Adept designs robotic systems, motion control and machine vision technology for automobiles, consumer electronics and medical applications, among other things.
| Issuer: | Adept Technology, Inc.
|
| Issue: | Common stock
|
| Amount: | $3.68 million (including $480,000 greenshoe)
|
| Shares: | 920,000
|
| Price: | $4.00
|
| Warrants: | No
|
| Underwriter: | Roth Capital Partners, LLC
|
| Announcement date: | May 21
|
| Pricing date: | June 8
|
| Settlement date: | June 13
|
| Stock symbol: | Nasdaq: ADEP
|
| Stock price: | $4.03 at close June 7
|
| Market capitalization: | $45.9 million
|
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