Offering has $870,000 greenshoe; Aegis Capital is the bookrunner
By Devika Patel
Knoxville, Tenn., March 2 - NetSol Technologies, Inc. said it priced its $5.8 million public offering of stock with an $870,000 greenshoe. The deal was announced Feb. 14.
The company will sell 14.5 million common shares at $0.40 apiece. The per-share purchase price is a 20% discount to the closing share price of $0.50 on March 1.
Aegis Capital Corp. is the bookrunner.
Settlement is expected March 7.
Proceeds will be used for working capital and other general corporate purposes, which may include product development, marketing and sales, debt repayment and expansion of NetSol's development capabilities.
Calabasas, Calif.-based NetSol develops software used for systems integration and outsourcing.
| Issuer: | NetSol Technologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $5.8 million
|
| Greenshoe: | $870,000
|
| Shares: | 14.5 million
|
| Price: | $0.40
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | Feb. 14
|
| Pricing date: | March 2
|
| Settlement date: | March 7
|
| Stock symbol: | Nasdaq: NTWK
|
| Stock price: | $0.50 at close March 1
|
| Market capitalization: | $22.02 million
|
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