Towerstream announces plans to price public offering of common stock

Lazard, Rodman & Renshaw assist; offering also has a 15% greenshoe

By Devika Patel

Knoxville, Tenn., July 14 - Towerstream Corp. said it plans to price a public offering of its common stock.

The deal also has a 45-day 15% greenshoe option.

Lazard Capital Markets LLC and Rodman & Renshaw, LLC are the joint bookrunners, and Merriman Capital, Inc. is the co-manager.

Proceeds will be used for research and development, commercialization costs, payments to CellSeed under a research agreement, payments to AFH Advisory under a letter of intent, loan repayments, operating costs and working capital.

Based in Middletown, R.I., Towerstream provides broadband services.

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