William Blair, Craig-Hallum Capital and Pacific Crest are bookrunners
By Devika Patel
Knoxville, Tenn., May 22 - GTT Communications Inc. said it priced a $23.25 million public offering of stock with a $3.49 million greenshoe. The offering was announced May 14.
The company will sell 3 million common shares at $7.75 per share. The price per share is a 1.53% discount to the May 21 closing share price of $7.87.
William Blair & Co., LLC is the lead bookrunning manager, and Craig-Hallum Capital Group LLC and Pacific Crest Securities LLC are the joint bookrunning managers.
Settlement is expected May 28.
Proceeds will be used for general corporate purposes.
The network integrator is based in McLean, Va.
| Issuer: | GTT Communications Inc.
|
| Issue: | Common stock
|
| Amount: | $23.25 million
|
| Greenshoe: | $3,487,500
|
| Shares: | 3 million
|
| Price: | $7.75
|
| Warrants: | No
|
| Bookrunners: | William Blair & Co., LLC (lead), Craig-Hallum Capital Group LLC and Pacific Crest Securities LLC (joint)
|
| Co-manager: | Drexel Hamilton, LLC
|
| Announcement date: | May 14
|
| Pricing date: | May 22
|
| Settlement date: | May 28
|
| Stock symbol: | NYSE: GTT
|
| Stock price: | $7.87 at close May 21
|
| Market capitalization: | $211.25 million
|
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