Underwriter Craig-Hallum Capital helps fund general corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 11 - Netlist, Inc. said the underwriters for its public sale of stock opted to exercise the deal's $1.47 million greenshoe in full for total proceeds of $11.29 million. The deal was announced Feb. 5 and priced for $9.81 million with the greenshoe on Feb. 6.
The company sold 8,680,775 common shares at $1.30 per share. The price per share is a 16.13% discount to the Feb. 5 closing share price of $1.55. Of the shares, 1,132,275 were part of the fully exercised greenshoe.
Craig-Hallum Capital Group LLC was the sole underwriter.
Proceeds will be used for general corporate purposes.
Irvine, Calif.-based Netlist designs, manufactures and sells memory subsystems primarily for the server, high-performance computing and communications markets.
| Issuer: | Netlist, Inc.
|
| Issue: | Common stock
|
| Amount: | $11,285,008 (including $1,471,958 greenshoe)
|
| Shares: | 8,680,775
|
| Price: | $1.30
|
| Warrants: | No
|
| Underwriter: | Craig-Hallum Capital Group LLC
|
| Announcement date: | Feb. 5
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 11
|
| Stock symbol: | Nasdaq: NLST
|
| Stock price: | $1.55 at close Feb. 5
|
| Market capitalization: | $54.61 million
|
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