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Top Image Systems Ltd prices $13.1 mln public offering of ordinary shares

Friday, 31 Jan 2014 09:05am EST 

Top Image Systems Ltd:Prices an underwritten public offering of 2,750,000 ordinary shares at $4.75 per share for gross proceeds of $13.1 mln.Top Image Systems has also granted the underwriters a 30-day option to purchase up to an additional 412,500 ordinary shares to cover over-allotments, if any.Says the offering is expected to close on Feb. 5.Top Image Systems expects to receive net proceeds of $11.9 mln from the sale of ordinary shares, after deducting the underwriters' discounts and other estimated offering expenses.Says the company intends to use the net proceeds from the offering for general corporate purposes, including potential acquisitions.Says Canaccord Genuity Inc. is acting as the sole book-running manager for the offering, and Roth Capital Partners and The Benchmark Company, LLC are acting as co-managers. 

Company Quote

-71.0 -4.52%
9:39am EDT