RBC Capital, Pacific Crest, Piper Jaffray, Needham, Canaccord assist
By Devika Patel
Knoxville, Tenn., July 21 – Impinj, Inc. said on Wednesday that it priced its $67.2 million initial public offering of stock with a $10.08 million greenshoe. The deal was announced June 2.
The company will sell 4.8 million common shares at $14.00 per share.
RBC Capital Markets, LLC, Pacific Crest Securities and Piper Jaffray & Co. are the bookrunners. Needham & Co. is a lead manager.
Settlement is expected on July 26.
Proceeds will be used to repay debt under the company’s mezzanine credit facility and for working capital and other general corporate purposes. The $5 million 18% term loan under the mezzanine credit facility is scheduled to mature in October 2020.
The wireless connectivity provider is based in Seattle. The company intends to list its common stock on the Nasdaq under the symbol “PI.”
| Issuer: | Impinj, Inc.
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| Issue: | Common stock
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| Amount: | $67.2 million
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| Greenshoe: | $10.08 million, or 720,000 shares
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| Shares: | 4.8 million
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| Price: | $14.00
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| Warrants: | No
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| Bookrunners: | RBC Capital Markets, LLC, Pacific Crest Securities and Piper Jaffray & Co.
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| Lead manager: | Needham & Co.
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| Co-manager: | Canaccord Genuity
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| Announcement date: | June 2
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| Pricing date: | July 20
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| Settlement date: | July 26
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| Stock exchange: | Nasdaq: PI
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