Shareholders will sell 1,573,913 shares via Stifel and William Blair
By Devika Patel
Knoxville, Tenn., April 30 - ePlus Inc. said it priced a $78.7 million secondary offering of stock with an $11.8 million greenshoe on Tuesday.
Selling shareholders will sell 1,573,913 common shares at $50.00 per share, which is an 8.59% discount to the April 28 closing share price of $54.70.
ePlus will repurchase 400,000 of the shares being sold.
Stifel and William Blair are the joint bookrunning managers.
Settlement is expected May 5.
The company will not receive any of the proceeds.
The Herndon, Va., company enables organizations to optimize their IT infrastructure and supply chain processes by delivering complex information technology solutions.
| Issuer: | ePlus Inc.
|
| Issue: | Common stock
|
| Amount: | $78,695,650
|
| Greenshoe: | $11,804,350
|
| Shares: | 1,573,913
|
| Price: | $50.00
|
| Warrants: | No
|
| Bookrunners: | Stifel and William Blair
|
| Co-lead manager: | Canaccord Genuity
|
| Pricing date: | April 29
|
| Settlement date: | May 5
|
| Stock symbol: | Nasdaq: PLUS
|
| Stock price: | $54.70 at close April 28
|
| Market capitalization: | $403.28 million
|
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