Orbcomm intends to price public offering of 5.5 million common shares

Bookrunner Raymond James, co-managers Canaccord, Craig-Hallum assist

By Devika Patel

Knoxville, Tenn., Jan. 16 - Orbcomm Inc. said it will price a public sale of 5.5 million common shares with a greenshoe option of 825,000 additional shares.

Raymond James & Associates, Inc. is the bookrunning manager, and Canaccord Genuity Inc. and Craig-Hallum Capital Group LLC are the co-managers.

Proceeds will be used for acquisitions, growth opportunities and general corporate purposes, including investments, debt repayment, working capital and capital expenditures.

Orbcomm is a Fort Lee, N.J., satellite data communications company.

© 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.