Bookrunner Stifel Nicolaus Weisel and co-manager Stern Agee assist
By Devika Patel
Knoxville, Tenn., June 24 - Procera Networks, Inc. said it sold $28.76 million of common stock in a public offering. The deal priced for $25 million with a $3.75 million over-allotment option, which was fully exercised, on June 9. The offering was announced June 8.
The company sold 3,026,800 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. Of the shares, 394,800 were part of the fully exercised greenshoe.
Stifel Nicolaus Weisel was the bookrunning manager. Stern Agee was co-manager.
Proceeds will be used for general working capital purposes, including sales and marketing, research and development and procuring inventory.
Based in Los Gatos, Calif., Procera provides solutions for network traffic identification and management.
| Issuer: | Procera Networks, Inc.
|
| Issue: | Common stock
|
| Amount: | $28,754,600 (including $3,750,600 greenshoe exercise)
|
| Shares: | 3,026,800
|
| Price: | $9.50
|
| Warrants: | No
|
| Underwriters: | Stifel Nicolaus Weisel (bookrunner), Stern Agee (co-manager)
|
| Announcement date: | June 8
|
| Pricing date: | June 9
|
| Settlement date: | June 24
|
| Stock symbol: | Amex: PKT
|
| Stock price: | $10.07 at close June 8
|
| Market capitalization: | $113.38 million
|
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