Underwriter granted 30-day greenshoe for 476,250 additional shares
By Marisa Wong
Madison, Wis., Feb. 26 - Active Power, Inc. priced its previously announced underwritten public offering of common stock on Wednesday. The company is selling 3,175,000 common shares at $3.15 per share for proceeds of $10 million.
The offering includes a 30-day over-allotment option for up to 476,250 additional shares.
The purchase price is a 6.8% discount to the Feb. 25 closing share price of $3.38.
Roth Capital Partners is the manager for the offering.
Proceeds will be used for working capital and other general corporate purposes.
The offering is expected to close on March 3.
Based in Austin, Texas, Active Power designs and manufactures uninterruptible power supply systems and modular infrastructure solutions for data centers and mission critical operations.
| Issuer: | Active Power, Inc.
|
| Issue: | Common stock
|
| Amount: | $10,001,250
|
| Greenshoe: | About $1.5 million (476,250 shares)
|
| Shares: | 3,175,000
|
| Price: | $3.15
|
| Warrants: | No
|
| Manager: | Roth Capital Partners
|
| Announcement date: | Feb. 25
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Stock symbol: | Nasdaq: ACPW
|
| Stock price: | $3.38 at close Feb. 25
|
| Market capitalization: | $74.24 million
|
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