Deal offers 7.4 million shares with $13.04 million greenshoe option
By Devika Patel
Knoxville, Tenn., Sept. 25 - KEYW Holding Corp. said it priced an $86.95 million public offering of stock with a $13.04 million greenshoe.
The company will sell 7.4 million common shares at $11.75 per share. The price per share reflects a 4.47% discount to the Sept. 24 closing share price of $12.30.
RBC Capital Markets is the bookrunning manager.
Settlement is expected Sept. 28.
Proceeds will be used to pay down debt under the company's asset-backed credit facility with Bank of America, NA and to pay a portion of the purchase price for its planned acquisition of Poole & Associates Inc. In addition, proceeds may be used for working capital, capital expenditures and other general corporate purposes, including potential acquisitions.
The Hanover, Md., company provides mission-critical cybersecurity, cyber superiority and geospatial intelligence solutions to defense, intelligence and national security agencies.
| Issuer: | KEYW Holding Corp.
|
| Issue: | Common stock
|
| Amount: | $86.95 million
|
| Greenshoe: | $13,042,500
|
| Shares: | 7.4 million
|
| Price: | $11.75
|
| Warrants: | No
|
| Bookrunner: | RBC Capital Markets
|
| Co-managers: | Dominick & Dominick LLC, FBR and Noble Financial Capital Markets
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Stock symbol: | Nasdaq: KEYW
|
| Stock price: | $12.30 at close Sept. 24
|
| Market capitalization: | $312.31 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
