By Devika Patel
Knoxville, Tenn., Sept. 16 - Telvent Git, SA arranged a $103 million private placement of shares on Sept. 11, according to a 6-K filed Tuesday with the Securities and Exchange Commission.
The company will sell 4,847,059 common shares at $21.25 apiece.
Banc of America Securities LLC and Canaccord Adams Inc. are the agents.
Proceeds will be used to fund a portion of the cash consideration required for Telvent's planned acquisition of DTN Holding Co., Inc. The deal is expected to settle concurrently with the acquisition in the fourth quarter.
Based in Alcobendas, Spain, Telvent is an information technology company that specializes in value-added real time products, services and integrated solutions to customers in targeted industrial sectors.
| Issuer: | Telvent Git, SA
|
| Issue: | Common stock
|
| Amount: | $103,000,003.75
|
| Shares: | 4,847,059
|
| Price: | $21.25
|
| Warrants: | No
|
| Agents: | Banc of America Securities LLC and Canaccord Adams Inc.
|
| Pricing date: | Sept. 11
|
| Stock symbol: | Nasdaq: TLVT
|
| Stock price: | $19.37 at close Sept. 11
|
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