Needham helps finance general corporate purposes and working capital
By Devika Patel
Knoxville, Tenn., Jan. 23 - Numerex Corp. said it priced a $26.04 million public offering of stock with a $3.91 million greenshoe. The offering was announced Tuesday.
The company will sell 2,315,000 common shares at $11.25 per share. The price per share reflects a 17.34% discount to the Jan. 22 closing share price of $13.61.
Needham & Co. LLC is the bookrunner.
Settlement is expected Jan. 28.
Proceeds will be used for working capital and general corporate purposes.
Based in Atlanta, Numerex provides software for wireless networking.
| Issuer: | Numerex Corp.
|
| Issue: | Common stock
|
| Amount: | $26,043,750
|
| Greenshoe: | $3,906,563
|
| Shares: | 2,315,000
|
| Price: | $11.25
|
| Warrants: | No
|
| Bookrunner: | Needham & Co. LLC
|
| Co-manager: | Craig-Hallum Capital Group LLC
|
| Announcement date: | Jan. 22
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 28
|
| Stock symbol: | Nasdaq: NMRX
|
| Stock price: | $13.61 at close Jan. 22
|
| Market capitalization: | $181.59 million
|
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