Bookrunner Canaccord Genuity helps fund general corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 6 - Top Image Systems, Ltd. said the underwriters for its public offering of stock opted to exercise the deal's $1.96 million greenshoe in full for total proceeds of $15.02 million. The deal was announced Jan. 30 and priced for $13.06 million with the greenshoe on Jan. 31.
The company sold 3,162,500 ordinary shares at $4.75 apiece. The price per share is a 13.16% discount to the Jan. 30 closing share price of $5.47. Of the shares, 412,500 were part of the fully exercised greenshoe.
Canaccord Genuity Inc. was the sole bookrunner.
Proceeds will be used for general corporate purposes.
The online discount retailer is based in Guangzhou, China.
| Issuer: | Top Image Systems, Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | $15,021,875 (including $1,959,375 greenshoe)
|
| Shares: | 3,162,500
|
| Price: | $4.75
|
| Warrants: | No
|
| Bookrunner: | Canaccord Genuity Inc.
|
| Co-managers: | Roth Capital Partners and Benchmark Co., LLC
|
| Announcement date: | Jan. 30
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 6
|
| Stock symbol: | Nasdaq: TISA
|
| Stock price: | $5.47 at close Jan. 30
|
| Market capitalization: | $57.29 million
|
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