Bookrunner Stifel Nicolaus Weisel and co-manager Stern Agee assist
By Devika Patel
Knoxville, Tenn., June 9 - Procera Networks, Inc. said it priced a $25 million public sale of its common stock. The deal was announced Wednesday.
The company will sell 2,632,000 common shares at $9.50 apiece. The price per share is a 5.66% discount to the June 8 closing share price of $10.07.
The deal has a 15% greenshoe of 394,800 shares for $3.75 million.
Stifel Nicolaus Weisel is the sole bookrunning manager. Stern Agee is co-manager.
Settlement is expected June 14.
Proceeds will be used for working capital and general corporate purposes, including sales and marketing, research and development and procuring inventory.
Based in Fremont, Calif., Procera provides solutions for network traffic identification and management.
| Issuer: | Procera Networks, Inc.
|
| Issue: | Common stock
|
| Amount: | $25,004,000
|
| Greenshoe: | $3,750,600
|
| Shares: | 2,632,000
|
| Price: | $9.50
|
| Warrants: | No
|
| Agents: | Stifel Nicolaus Weisel, Stern Agee
|
| Announcement date: | June 8
|
| Pricing date: | June 9
|
| Settlement date: | June 14
|
| Stock symbol: | Amex: PKT
|
| Stock price: | $10.07 at close June 8
|
| Market capitalization: | $112.48 million
|
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