Craig-Hallum Capital acts as bookrunner, B. Riley is co-manager
By Devika Patel
Knoxville, Tenn., June 16 - Odyssey Marine Exploration, Inc. priced a $14.64 million public sale of stock with a $2.2 million greenshoe in a prospectus supplement filed Thursday with the Securities and Exchange Commission. The deal was announced June 7.
The company will sell 4.8 million common shares at $3.05 apiece. The price per share is a 2.24% discount to the June 15 closing share price of $3.12.
Craig-Hallum Capital Group is the bookrunner and B. Riley & Co., LLC is the co-manager.
Settlement is expected June 21.
Proceeds will be used for working capital, capital expenditures, and other general corporate purposes.
The Tampa, Fla.-based company makes deep-ocean technology for shipwreck exploration.
| Issuer: | Odyssey Marine Exploration, Inc.
|
| Issue: | Common shares
|
| Amount: | $14.64 million
|
| Greenshoe: | $2,196,000
|
| Shares: | 4.8 million
|
| Price: | $3.05
|
| Warrants: | No
|
| Underwriters: | Craig-Hallum Capital Group (bookrunner), B. Riley & Co., LLC (co-manager)
|
| Announcement date: | June 7
|
| Pricing date: | June 16
|
| Settlement date: | June 21
|
| Stock symbol: | Nasdaq: OMEX
|
| Stock price: | $3.12 at close June 15
|
| Market capitalization: | $226.69 million
|
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