Joseph Gunnar is bookrunner; proceeds for research, corporate purposes
By Devika Patel
Knoxville, Tenn., June 16 – Intellicheck Mobilisa, Inc. priced a $2.1 million public offering of units with a $315,000 greenshoe, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission. The deal was announced Tuesday.
The company will sell 1.2 million units of one common shares and a half-share warrant at $1.75 per unit.
The whole warrants are each exercisable at $2.20 for five years. The strike price is a 41.03% premium to the June 15 closing share price of $1.56.
Joseph Gunnar & Co. is the bookrunner.
Settlement is expected June 20.
Proceeds will be used for general corporate purposes, including research and development, sales and marketing, protection of intellectual property and potential share repurchases.
The identity card seller is based in Port Townsend, Wash.
| Issuer: | Intellicheck Mobilisa, Inc.
|
| Issue: | Units of one common shares and a half-share warrant
|
| Amount: | $2.1 million
|
| Greenshoe: | $315,000, or 180,000 units
|
| Units: | 1.2 million
|
| Price: | $1.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.20
|
| Bookrunner: | Roth Capital Partners
|
| Announcement date: | June 14
|
| Pricing date: | June 16
|
| Settlement date: | June 20
|
| Stock symbol: | NYSE: IDN
|
| Stock price: | $1.56 at close June 15
|
| Market capitalization: | $14.45 million
|
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