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CalAmp Corp Announces Closing Of Common Stock Offering


Wednesday, 20 Feb 2013 04:05pm EST 

CalAmp Corp announced the closing of an underwritten public offering of 5,175,000 shares of its common stock at $9.25 per share. The aggregate amount of common shares sold reflects the exercise in full by the underwriters of their option to purchase up to 675,000 additional shares of common stock to cover over-allotments. The Company received net proceeds of approximately $45 million, after deducting underwriting discounts and estimated offering expenses. CalAmp intends to use the net proceeds from the offering to fund a portion of the purchase price for its previously announced pending acquisition of the operations of Wireless Matrix Corporation. Canaccord Genuity Inc. and B. Riley & Co., LLC acted as joint book-running managers for the offering. Craig-Hallum Capital Group LLC, Northland Securities, Inc. and First Analysis Securities Corporation acted as co-managers for the offering. 

Company Quote

18.82
-0.37 -1.93%
19 Sep 2014