Needham, Cowen are the bookrunners; Craig-Hallum, B. Riley to assist
By Devika Patel
Knoxville, Tenn., Aug. 5 – Digimarc Corp. said it priced a $37 million public sale of stock with a $5.55 million greenshoe. The deal was announced Thursday.
The company will sell 1,233,333 common shares at $30.00 apiece. The price per share is a 7.68% discount to the Aug. 4 closing share price of $10.29.
Needham & Co. and Cowen and Co. are the bookrunners.
Settlement is expected Aug. 10.
Proceeds will be used for general working capital purposes and to accelerate the company’s growth initiatives.
Based in Beaverton, Ore., Digimarc specializes in digital watermarking and secure identity technologies.
| Issuer: | Digimarc Corp
|
| Issue: | Common shares
|
| Amount: | $37 million
|
| Greenshoe: | $5.55 million, or 185,000 shares
|
| Shares: | 1,233,333
|
| Price: | $30.00
|
| Warrants: | No
|
| Bookrunners: | Needham & Co. and Cowen and Co.
|
| Co-managers: | Craig-Hallum Capital Group and B. Riley & Co.
|
| Announcement date: | Aug. 4
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 10
|
| Stock symbol: | Nasdaq: DMRC
|
| Stock price: | $10.29 at close Aug. 4
|
| Market capitalization: | $312.61 million
|
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