InterCloud to price 2 million shares, 1 million warrants in public sale Oct. 1

Company will sell stock at a price between $9.00 and $11.00 per share

By Devika Patel and Aleesia Forni

Virginia Beach, Sept. 26 - InterCloud Systems, Inc. will sell up to 2 million common shares and 1 million warrants in its initial public offering of common stock on Oct. 1 to trade Oct. 2, according to an informed source.

The stock will be sold at price between $9.00 and $11.00 per share, according to a Form S-1/A filed Tuesday with the Securities and Exchange Commission. The deal was announced on Aug. 5.

Aegis Capital Corp. is the bookrunning manager and Northland Capital Markets is the co-manager.

About $18.2 million of the proceeds will be used to complete the company's planned acquisition of Integration Partners-NY Corp., with the remainder used for working capital and general corporate purposes.

Based in Boca Raton, Fla., the company is an end-to-end solution provider of cloud and managed service-based platforms, professional services, applications and infrastructure to the telecommunications industry and corporate enterprises. The company's expects its shares will trade on the Nasdaq under the symbol "ICLD."

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