Deal sells 8.51 million shares; $13.04 million greenshoe exercised
By Devika Patel
Knoxville, Tenn., Sept. 25 - KEYW Holding Corp. said its underwriters plan to exercise the greenshoe in full for a $99.99 million public offering of stock. The deal priced for $86.95 million with a $13.04 million greenshoe on Sept. 25.
The company sold 8.51 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. Of the shares, 1.11 million were part of the fully exercised greenshoe.
RBC Capital Markets was the bookrunning manager.
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 services to defense, intelligence and national security agencies.
| Issuer: | KEYW Holding Corp.
|
| Issue: | Common stock
|
| Amount: | $99,992,500 (including $13,042,500 greenshoe)
|
| Shares: | 8.51 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: | $321.25 million
|
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