Needham, Cowen were the bookrunners; Craig-Hallum, B. Riley assisted
By Devika Patel
Knoxville, Tenn., Aug. 10 – Digimarc Corp. said the underwriters for its public offering of stock opted to exercise the deal’s $5.55 million greenshoe in full, lifting total proceeds of the offering to $42.55 million. The deal was announced Aug. 4 and priced for $37 million with the greenshoe on Aug. 5.
The company sold 1,418,333 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. Of the shares, 185,000 were part of the fully exercised greenshoe.
Needham & Co. and Cowen and Co. were the bookrunners.
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: | $42,549,990, including $5.55 million greenshoe of 185,000 shares
|
| Shares: | 1,418,333
|
| 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: | $393.27 million
|
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