Offering's proceeds used for investments in the company's technology
By Devika Patel
Knoxville, Tenn., July 26 - Liquid Holdings Group, Inc. said it priced its $28.58 million initial public offering of stock with a $4.18 million greenshoe. The deal was announced Wednesday.
The company will sell 3,175,000 common shares at $9.00 per share.
Sandler O'Neill + Partners, LP is the bookrunning manager.
Proceeds will be used for investments in the company's technology and its sales and marketing functions, and for working capital and general corporate purposes, which may also include acquisitions of complementary businesses, products or technologies.
The New York company has developed and provides proprietary next generation software technology that seamlessly integrates trading, real-time risk management, accounting, reporting and administration tools in a single platform for the financial services community. The company expects its shares will trade on the Nasdaq under the symbol "LIQD."
| Issuer: | Liquid Holdings Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $28,575,000
|
| Greenshoe: | $4,178,142
|
| Shares: | 3,175,000
|
| Price: | $9.00
|
| Warrants: | No
|
| Bookrunners: | Sandler O'Neill + Partners, LP
|
| Announcement date: | July 24
|
| Pricing date: | July 26
|
| Stock exchange: | Nasdaq: LIQD
|
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