Proceeds to be used for working capital, acquisitions, general purposes
New York, March 20 - Cinedigm Corp. priced a $27.54 million public offering of common stock at $2.70 per share, according to a company announcement.
The sale included 10.2 million shares of class A common stock. There is a greenshoe for a further 1.53 million shares.
The price was a 14.6% discount to the $3.16 closing level on Wednesday.
Piper Jaffray & Co. was bookrunner.
Proceeds will be used for working capital, possible future acquisitions and general corporate purposes.
Los Angeles-based Cinedigm distributes independent movie, television and other short-form content.
| Issuer: | Cinedigm Corp.
|
| Issue: | Class A common stock
|
| Amount: | $27.54 million
|
| Shares: | 10.2 million
|
| Greenshoe: | 1.53 million shares
|
| Price: | $2.70
|
| Pricing date: | March 19, after close
|
| Settlement: | March 25
|
| Bookrunner: | Piper Jaffray & Co.
|
| Stock symbol: | Nasdaq: CIDM
|
| Stock price: | $3.16 at close, March 19
|
| Market capitalization: | $178 million
|
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