Ladenburg Thalmann, Craig-Hallum Capital Group assist with financing
By Devika Patel
Knoxville, Tenn., March 4 - Mandalay Digital Group, Inc. said it will raise about $17.4 million in a public sale of stock with a $2.61 million greenshoe.
The company will sell common shares at $4.10 per share. The price per share reflects a 10.87% discount to the March 3 closing share price of $4.60.
Ladenburg Thalmann & Co. Inc. is the bookrunning manager.
Settlement is expected March 7.
Mandalay, based in Los Angeles, delivers a mobile services platform that works with mobile operators and third-party publishers to provide portal management, user interface, content development and billing technology that enables the responsible distribution of mobile entertainment.
| Issuer: | Mandalay Digital Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $17.4 million (approximate)
|
| Greenshoe: | $2,610,675
|
| Price: | $4.10
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
|
| Co-manager: | Craig-Hallum Capital Group LLC
|
| Pricing date: | March 4
|
| Settlement date: | March 7
|
| Stock symbol: | Nasdaq: MNDL
|
| Stock price: | $4.60 at close March 3
|
| Market capitalization: | $131.75 million
|
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