Roth Capital is bookrunner; deal includes greenshoe for 416,250 shares
By Marisa Wong
Morgantown, W.Va., May 3 – Revolution Lighting Technologies, Inc. priced its public offering of common stock on Tuesday. The company will sell 2,775,000 shares at $5.25 per share, according to an 8-K filing with the Securities and Exchange Commission.
The price per share is a 24.02% discount to Monday’s closing share price.
The offering includes a 30-day over-allotment option for 416,250 additional shares of common stock.
Roth Capital Partners is the bookrunner.
As previously announced, the company intends to use a portion of the proceeds, about $8 million, for an acquisition. Remaining proceeds will be used to repay debt and for general corporate purposes.
The sale is expected to close on May 6.
Based in Stamford, Conn., Revolution Lighting designs, manufactures and markets LED lighting solutions for the industrial, commercial and government markets.
| Issuer: | Revolution Lighting Technologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $14,568,750
|
| Shares: | 2,775,000
|
| Greenshoe: | 416,250 shares
|
| Price: | $5.25
|
| Warrants: | No
|
| Managers: | Roth Capital Partners (bookrunner); Rodman & Renshaw (co-manager)
|
| Pricing date: | May 3
|
| Settlement date: | May 6
|
| Stock symbol: | Nasdaq: RVLT
|
| Stock price: | $6.91 at close May 2
|
| Market capitalization: | $110.4 million
|
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