Deal with $2.25 million greenshoe sold by William Blair
By Devika Patel
Knoxville, Tenn., June 25 - Mitek Systems, Inc. priced a $15 million public sale of stock with a $2.25 million greenshoe, according to a free writing prospectus filed Tuesday with the Securities and Exchange Commission. The deal was announced Monday.
The company will sell 2,857,142 common shares at $5.25 apiece. The price per share is a 22.22% discount to the June 24 closing share price of $6.75.
William Blair & Co., LLC is the sole underwriter.
Settlement is expected on June 28.
Proceeds will be used for general corporate purposes, including working capital requirements.
Based in Poway, Calif., Mitek produces software used by financial institutions to detect forgeries.
| Issuer: | Mitek Systems, Inc.
|
| Issue: | Common shares
|
| Amount: | $15 million
|
| Greenshoe: | $2.25 million
|
| Shares: | 2,857,142
|
| Price: | $5.25
|
| Warrants: | No
|
| Underwriter: | William Blair & Co., LLC
|
| Announcement date: | June 24
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Stock symbol: | Nasdaq: MITK
|
| Stock price: | $6.75 at close June 24
|
| Market capitalization: | $176.33 million
|
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