Greenshoe exercised for $1 million; shares sold at $1.40 apiece
By Devika Patel
Knoxville, Tenn., April 25 - Cinedigm Digital Cinema Corp. said it completed an $11 million public offering of stock. The deal priced for $10 million on April 20.
The company sold 7,857,143 class A common shares at $1.40 per share. The price per share is a 2.1% discount to $1.43, the April 19 closing share price.
Of the shares, 714,286 were part of the greenshoe.
B. Riley & Co., LLC was the sole bookrunning manager, and Merriman Capital, Inc. was the co-manager.
Cinedigm is a Morristown, N.J.-based company that converts movie theaters into digital and networked entertainment centers.
| Issuer: | Cinedigm Digital Cinema Corp.
|
| Issue: | Class A common stock
|
| Amount: | $11 million (including $1 million greenshoe)
|
| Shares: | 7,857,143
|
| Price: | $1.40
|
| Warrants: | No
|
| Bookrunner: | B. Riley & Co., LLC
|
| Pricing date: | April 20
|
| Stock symbol: | Nasdaq: CIDM
|
| Stock price: | $1.43 at close April 19
|
| Market capitalization: | $57.21 million
|
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