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Datalink Corp Announces Closing Of Common Stock Offering

Wednesday, 14 Aug 2013 04:05pm EDT 

Datalink Corp announced the closing of an underwritten public offering of 3,795,000 shares of its common stock at $11.00 per share. The aggregate amount of common shares sold reflects the exercise in full by the underwriters of their option to purchase up to 495,000 additional shares of common stock to cover over-allotments. Datalink received net proceeds of approximately $38.9 million, after deducting underwriting discounts and estimated offering expenses and intends to use the net proceeds from the offering for potential acquisitions of other businesses or technology that will complement its current business model and growth plans, although the Company 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. acted as sole book-running manager for the offering. Craig-Hallum Capital Group LLC and Needham & Company, LLC acted as co-managers for the offering. 

Company Quote

-0.08 -0.61%
3:16pm EST