BofA Merrill Lynch and Deutsche Bank Securities are joint bookrunners
By Devika Patel
Knoxville, Tenn., Aug. 1 – Mavenir Systems, Inc. priced a $44.99 million public sale of stock with a $6.75 million greenshoe, according to a prospectus filed Friday with the Securities and Exchange Commission. The deal was announced July 15.
The company will sell 4.09 million common shares at $11.00 apiece. The price per share is a 3.85% discount to the July 31 closing share price of $11.29.
BofA Merrill Lynch and Deutsche Bank Securities are the joint bookrunning managers.
Settlement is expected Aug. 6.
Proceeds will be used for working capital and other general corporate purposes.
Based in Richardson, Texas, the company is a provider of software-based telecommunications networking solutions that enable mobile service providers to deliver internet protocol-based voice, video, rich communications and enhanced messaging services to their subscribers globally.
| Issuer: | Mavenir Systems, Inc.
|
| Issue: | Common shares
|
| Amount: | $44.99 million
|
| Greenshoe: | $6,748,500
|
| Shares: | 4.09 million
|
| Price: | $11.00
|
| Warrants: | No
|
| Bookrunner: | BofA Merrill Lynch and Deutsche Bank Securities
|
| Co-managers: | Stifel, Needham & Co., Pacific Crest Securities and Cowen and Co.
|
| Announcement date: | July 15
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 6
|
| Stock symbol: | NYSE: MVNR
|
| Stock price: | $11.29 at close July 31
|
| Market capitalization: | $267.64 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
