Jefferies, Blair are bookrunners; deal includes $6.7 million greenshoe
By Devika Patel
Knoxville, Tenn., Dec. 5 – GTT Communications Inc. said it priced a $44.63 million public offering of stock with a $6.69 million greenshoe. The offering was announced May 14, 2014.
The company will sell 3.5 million common shares at $12.75 per share. The price per share is a 6.32% discount to the Dec. 4 closing share price of $13.61.
Jefferies LLC and William Blair & Co, LLC are the bookrunning managers.
Settlement is expected Dec. 10.
Proceeds will be used for working capital and general corporate purposes, including potential acquisitions.
The network integrator is based in McLean, Va.
| Issuer: | GTT Communications Inc.
|
| Issue: | Common stock
|
| Amount: | $44,625,000
|
| Greenshoe: | $6,693,750
|
| Shares: | 3.5 million
|
| Price: | $12.75
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and William Blair & Co, LLC
|
| Co-managers: | Pacific Crest Securities LLC, Craig-Hallum Capital Group LLC, and Drexel Hamilton, LLC
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 10
|
| Stock symbol: | NYSE: GTT
|
| Stock price: | $13.61 at close Dec. 4
|
| Market capitalization: | $371.33 million
|
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