RBC Capital, Pacific Crest, Piper Jaffray, Needham, Canaccord assist
By Devika Patel
Knoxville, Tenn., July 26 – Impinj, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $10.08 million greenshoe in full, lifting total proceeds of the offering to $77.28 million. The deal was announced June 2 and priced for $67.2 million with the greenshoe on July 20.
The company sold 5.52 million common shares at $14.00 per share. Of the shares, 720,000 were part of the fully exercised greenshoe.
RBC Capital Markets, LLC, Pacific Crest Securities and Piper Jaffray & Co. were the bookrunners. Needham & Co. was a lead manager.
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.
|
| Issue: | Common stock
|
| Amount: | $77.28 million, including $10.08 million greenshoe of 720,000 shares
|
| Shares: | 5.52 million
|
| Price: | $14.00
|
| Warrants: | No
|
| Bookrunners: | RBC Capital Markets, LLC, Pacific Crest Securities and Piper Jaffray & Co.
|
| Lead manager: | Needham & Co.
|
| Co-manager: | Canaccord Genuity
|
| Announcement date: | June 2
|
| Pricing date: | July 20
|
| Settlement date: | July 26
|
| Stock exchange: | Nasdaq: PI
|
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