Financing offers 10,344,998 company common shares at $4.35 per share
By Devika Patel
Knoxville, Tenn., Oct. 5 - Vringo, Inc. said it plans a $45 million registered direct offering of stock.
The company will sell 10,344,998 common shares at $4.35 apiece. The price per share represents a 17.43% discount to the Oct. 4 closing share price of $5.25.
Settlement is expected Oct. 9.
Proceeds will be used for general corporate purposes.
The provider of software platforms for mobile social and video applications is based in New York.
| Issuer: | Vringo, Inc.
|
| Issue: | Common shares
|
| Amount: | $45,000,741
|
| Shares: | 10,344,998
|
| Price: | $4.35
|
| Warrants: | No
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 9
|
| Stock symbol: | NYSE MKT: VRNG
|
| Stock price: | $5.25 at close Oct. 4
|
| Market capitalization: | $160.94 million
|
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