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InterCloud plans to price $20 million initial public offering of stock
Company will sell stock at a price between $9.00 and $11.00 per share
By Devika Patel
Knoxville, Tenn., Aug. 5 - InterCloud Systems, Inc. will price a $20 million initial public offering of common stock with a $3 million greenshoe, according to a Form S-1/A filed Monday with the Securities and Exchange Commission.
The stock will be sold at price between $9.00 and $11.00 per share.
Aegis Capital Corp. is the bookrunning manager, and Northland Capital Markets is the co-manager.
Approximately $18.2 million of the proceeds will be used to complete the company's planned acquisition of Integration Partners-NY Corp., with the remainder used for working capital and general corporate purposes.
Based in Boca Raton, Fla., the company is an end-to-end solution provider of cloud and managed service-based platforms, professional services, applications and infrastructure to the telecommunications industry and corporate enterprises. The company's expects its shares will trade on the Nasdaq under the symbol "ICLD."
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