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Coastal Contacts to price $35.5 million public sale of common stock
Deal funds customer acquisition strategy, working capital for growth
By Devika Patel
Knoxville, Tenn., Nov. 9 - Coastal Contacts Inc. said it plans to price a public offering of common stock to raise about .$35.5 million with a 15%, 30-day greenshoe.
William Blair & Co., LLC is the sole bookrunning manager; Roth Capital Partners, LLC, Craig-Hallum Capital Group LLC, Octagon Capital Corp. and PI Financial Corp. will be co-managers.
Proceeds will be used to accelerate the company's customer acquisition strategy, make certain capital expenditures and improve working capital to fund growth in new and existing distribution channels.
Based in Vancouver, B.C., Coastal Contacts is an online retailer of vision care products.
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