Deal sells common shares at $15.25 each with $10.52 million greenshoe
By Devika Patel
Knoxville, Tenn., March 20 - Amerigon Inc. said it priced a $70.15 million public offering of stock with a $10.52 million greenshoe. Plans for the offering were announced Monday.
The company will sell 4.6 million common shares at $15.25 per share. The price per share reflects a 4.39% discount to the March 19 closing share price of $15.95.
Roth Capital Partners is the bookrunner; Craig-Hallum Capital Group is co-manager.
Settlement is expected March 23.
Proceeds will be used to make redemption installment payments and pay dividends on the company's series C 8% convertible preferred stock and prepay its debt obligations.
Amerigon is a Northville, Mich., maker of heating and cooling devices.
Issuer: | Amerigon Inc.
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Issue: | Common stock
|
Amount: | $70.15 million
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Greenshoe: | $10,522,500
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Shares: | 4.6 million
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Price: | $15.25
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Warrants: | No
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Bookrunner: | Roth Capital Partners
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Co-manager: | Craig-Hallum Capital Group
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Announcement date: | March 19
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Pricing date: | March 20
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Settlement date: | March 23
|
Stock symbol: | Nasdaq: ARGN
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Stock price: | $15.95 at close March 19
|
Market capitalization: | $380.94 million
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