Lead bookrunner B. Riley, co-manager Craig Hallum assist with offering
By Devika Patel
Knoxville, Tenn., Oct. 23 – WidePoint Corp. said it priced a $10 million public offering of stock with a $1.5 million greenshoe. The offering was announced Wednesday.
The company will sell 6,896,552 common shares at $1.45 per share. The price per share reflects a 9.94% discount to the Oct. 2 closing share price of $1.61.
B. Riley & Co., LLC is the lead bookrunning manager.
Settlement is expected Oct. 28.
Proceeds will be used for growth capital and general corporate purposes, including debt repayment, mergers and acquisitions.
WidePoint is an information technology services provider based in McLean, Va.
| Issuer: | WidePoint Corp.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Greenshoe: | $1.5 million
|
| Shares: | 6,896,552
|
| Price: | $1.45
|
| Warrants: | No
|
| Bookrunner: | B. Riley & Co., LLC (lead)
|
| Co-manager: | Craig Hallum Capital Group LLC
|
| Announcement date: | Oct. 22
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 28
|
| Stock symbol: | NYSE: WYY
|
| Stock price: | $1.61 at close Oct. 22
|
| Market capitalization: | $116.2 million
|
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