Shareholders will sell 1,573,913 shares via Stifel and William Blair
By Devika Patel
Knoxville, Tenn., May 14 - ePlus Inc. said the underwriters for its secondary offering of stock opted to exercise the deal's $11.8 million greenshoe in full for total proceeds of $90.5 million. The deal priced for $78.7 million with the greenshoe on April 29.
Selling shareholders sold 1.81 million common shares at $50.00 per share, which is an 8.59% discount to the April 28 closing share price of $54.70. Of the shares, 236,087 were part of the fully exercised greenshoe.
Stifel and William Blair were the joint bookrunning managers.
The company did not receive any of the proceeds.
The Herndon, Va., company enables organizations to optimize their IT infrastructure and supply chain processes by delivering complex information technology solutions.
| Issuer: | ePlus Inc.
|
| Issue: | Common stock
|
| Amount: | $90.5 million, including $11,804,350 greenshoe
|
| Shares: | 1.81 million
|
| Price: | $50.00
|
| Warrants: | No
|
| Bookrunner: | Stifel and William Blair
|
| Co-lead manager: | Canaccord Genuity
|
| Pricing date: | April 29
|
| Settlement date: | May 14
|
| Stock symbol: | Nasdaq: PLUS
|
| Stock price: | $54.70 at close April 28
|
| Market capitalization: | $408.44 million
|
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