Ladenburg Thalmann helps raise funds for general corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 16 - Mandalay Digital Group, Inc. said it will raise about $12 million in a public offering of stock. The offering was announced on Aug. 15.
The company will sell common shares at $2.48 per share. The price per share reflects a 20.26% discount to the Aug. 15 closing share price of $3.11. There is a greenshoe of another 725,806 shares.
Ladenburg Thalmann & Co. Inc. is the bookrunning manager.
Settlement is expected Aug. 21.
Proceeds will be used for general corporate purposes, including working capital, product development and capital expenditures.
Mandalay, based in Los Angeles, delivers a mobile services platform that works with mobile operators and third-party publishers to provide portal management, user interface, content development and billing technology that enables the responsible distribution of mobile entertainment.
| Issuer: | Mandalay Digital Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $12 million (approximate)
|
| Greenshoe: | 725,806 shares
|
| Shares: | 1.5 million
|
| Price: | $2.48
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
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| Announcement date: | Aug. 15
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| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 21
|
| Stock symbol: | Nasdaq: MNDL
|
| Stock price: | $3.11 at close Aug. 15
|
| Market capitalization: | $43.77 million
|
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