Bookrunner Craig-Hallum Capital helps fund general corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 19 – Netlist, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $1.5 million greenshoe in full for total proceeds of $11.5 million. The deal was announced Feb. 18 and priced for $10 million with the greenshoe on Feb. 19.
The company sold 8,846,154 common shares at $1.30 per share. The price per share is a 16.67% discount to the Feb. 18 closing share price of $1.56. Of the shares, 1,153,846 were part of the fully exercised greenshoe.
Craig-Hallum Capital Group was the bookrunning manager.
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: | $11.5 million (including $1.5 million greenshoe)
|
| Shares: | 8,846,154
|
| Price: | $1.30
|
| Warrants: | No
|
| Bookrunner: | Craig-Hallum Capital Group
|
| Announcement date: | Feb. 18
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Stock symbol: | Nasdaq: NLST
|
| Stock price: | $1.56 at close Feb. 18
|
| Market capitalization: | $58.55 million
|
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