Financing offers 10,344,998 company common shares at $4.35 per share
By Devika Patel
Knoxville, Tenn., Oct. 5 - Vringo, Inc. said it plans a $45 million registered direct offering of stock.
The company will sell 10,344,998 common shares at $4.35 apiece. The price per share represents a 17.43% discount to the Oct. 4 closing share price of $5.25.
Settlement is expected Oct. 9.
Proceeds will be used for general corporate purposes.
The provider of software platforms for mobile social and video applications is based in New York.
Issuer: | Vringo, Inc.
|
Issue: | Common shares
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Amount: | $45,000,741
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Shares: | 10,344,998
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Price: | $4.35
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Warrants: | No
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Pricing date: | Oct. 5
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Settlement date: | Oct. 9
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Stock symbol: | NYSE MKT: VRNG
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Stock price: | $5.25 at close Oct. 4
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Market capitalization: | $160.94 million
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