Deal proceeds to be used for product development and commercialization
By Devika Patel
Knoxville, Tenn., Feb. 19 - Datawatch Corp. said the underwriters for its public offering of stock opted to exercise the deal's $7.5 million greenshoe in full for total proceeds of $57.52 million. The offering was announced Feb. 10 and priced for $50.02 million with the greenshoe on Feb. 13.
The company sold 2,018,250 common shares at $28.50 per share. The price per share reflects a 4.49% discount to the Feb. 12 closing share price of $29.84. Of the shares, 263,250 were part of the fully exercised greenshoe.
Canaccord Genuity Inc. and William Blair & Co., LLC were the joint bookrunning managers.
Proceeds will be used for product development and commercialization, working capital and other general corporate purposes, including debt repayment.
The Chelmsford, Mass., company develops business computer software.
| Issuer: | Datawatch Corp.
|
| Issue: | Common stock
|
| Amount: | $57,520,125 (including $7,502,625 greenshoe)
|
| Shares: | 2,018,250
|
| Price: | $28.50
|
| Warrants: | No
|
| Bookrunners: | Canaccord Genuity Inc. and William Blair & Co., LLC
|
| Co-managers: | Cowen and Co., LLC and Craig-Hallum Capital Group LLC
|
| Announcement date: | Feb. 10
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 19
|
| Stock symbol: | Nasdaq: DWCH
|
| Stock price: | $29.84 at close Feb. 12
|
| Market capitalization: | $262.69 million
|
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