Deal with $14.18 million greenshoe conducted by Stifel Nicolaus Weisel
By Devika Patel
Knoxville, Tenn., April 20 - Procera Networks, Inc. priced a $94.5 million public sale of stock with a $14.18 million greenshoe in a free writing prospectus filed with the Securities and Exchange Commission. The deal was announced on April 10 and priced Thursday.
The company will sell 4.5 million common shares at $21.00 apiece. The price per share is a 6.54% discount to the April 18 closing share price of $22.47.
Stifel Nicolaus Weisel is the bookrunning manager, and William Blair & Co. is co-lead manager, with Pacific Crest Securities, Raymond James and Sterne Agee assisting.
Settlement is expected on April 25.
Proceeds will be used for working capital and general corporate purposes, including procuring inventory, increasing research and development activities and increasing sales and marketing activities.
Based in Los Gatos, Calif., Procera provides services for network traffic identification and management.
| Issuer: | Procera Networks, Inc.
|
| Issue: | Common shares
|
| Amount: | $94.5 million
|
| Greenshoe: | $14,175,000
|
| Shares: | 4.5 million
|
| Price: | $21.00
|
| Warrants: | No
|
| Bookrunner: | Stifel Nicolaus Weisel
|
| Announcement date: | April 10
|
| Pricing date: | April 19
|
| Settlement date: | April 25
|
| Stock symbol: | Nasdaq: PKT
|
| Stock price: | $22.47 at close April 18
|
| Market capitalization: | $307.21 million
|
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