Deal offers shares at $10.00 alongside an $8.78 million secondary sale
By Devika Patel
Knoxville, Tenn., July 18 – Globant SA said it priced its $43.55 million initial public offering of stock. The deal was announced on Aug. 27, 2013 and includes a secondary sale of $15 million.
There is an $8.78 million secondary greenshoe option.
The company will sell 4.35 million common shares at $10.00 per share. Selling shareholders will sell 1.5 million shares at the same price.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are the joint bookrunning managers.
Proceeds will be used to repay a company subsidiary’s working capital facility with Bridge Bank, for investments in new offices and IT infrastructure to support growth, acquisitions or investments and general corporate and working capital purposes.
The technology services provider is based in Luxembourg. The company intends to list its common stock on the NYSE exchange under the symbol “GLOB.”
| Issuer: | Globant SA
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| Issue: | Common stock
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| Amount: | $43.5 million
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| Greenshoe: | $8,775,000
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| Shares: | 4.35 million
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| Price: | $10.00
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| Warrants: | No
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| Bookrunners: | J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC
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| Co-managers: | William Blair & Co., LLC, Cowen and Co., LLC and LOYAL3 Securities, Inc.
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| Announcement date: | Aug. 27, 2013
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| Pricing date: | July 18
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| Stock exchange: | NYSE: GLOB
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