Deal sells shares at $15.25; $10.52 million greenshoe fully exercised
By Devika Patel
Knoxville, Tenn., March 23 - Amerigon Inc. said it settled an $80.67 million public offering of stock. The offering was announced Monday and priced for $70.15 million with a $10.52 million greenshoe on Tuesday.
The company sold 5.29 million common shares at $15.25 per share. The price per share reflects a 4.39% discount to the March 19 closing share price of $15.95.
Of the shares, 690,000 were part of the fully exercised greenshoe.
Roth Capital Partners was the bookrunner; Craig-Hallum Capital Group was co-manager.
Proceeds will be used to make redemption installment payments and pay dividends on the company's series C 8% convertible preferred stock and prepay its debt.
Amerigon is a Northville, Mich., maker of heating and cooling devices.
| Issuer: | Amerigon Inc.
|
| Issue: | Common stock
|
| Amount: | $80,672,500 (including $10,522,500 greenshoe)
|
| Shares: | 5.29 million
|
| Price: | $15.25
|
| Warrants: | No
|
| Bookrunner: | Roth Capital Partners
|
| Co-manager: | Craig-Hallum Capital Group
|
| Announcement date: | March 19
|
| Pricing date: | March 20
|
| Settlement date: | March 23
|
| Stock symbol: | Nasdaq: ARGN
|
| Stock price: | $15.95 at close March 19
|
| Market capitalization: | $390.72 million
|
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