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Datalink Corp Announces Pricing of Common Stock Offering

Friday, 9 Aug 2013 09:05am EDT 

Datalink Corp announced that the pricing of an underwritten public offering of 3,300,000 shares of its common stock at $11.00 per share. The underwriters have a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 495,000 shares to cover over-allotments, if any. The offering is expected to close on August 14, 2013, subject to customary closing conditions. Datalink expects to receive net proceeds of $33.8 million, after deducting underwriting discounts and estimated offering expenses, assuming no exercise of the underwriters` over-allotment option. Datalink intends to use the net proceeds from the offering for potential acquisitions of other businesses or technology that will complement current business model and growth plans, although have no present commitments or agreements to do so. Any amount of the net proceeds of this offering not used for acquisitions will be used for general corporate purposes, including working capital. Canaccord Genuity Inc. is acting as sole book-running manager for the offering. Craig-Hallum Capital Group LLC and Needham & Company, LLC are acting as co-managers for the offering. 

Company Quote

6 Jul 2015