Ladenburg Thalmann, Craig-Hallum Capital Group assist with financing
By Devika Patel
Knoxville, Tenn., March 7 - Mandalay Digital Group, Inc. said the underwriters for its public sale of stock opted to exercise the deal's $2.61 million greenshoe in full, lifting total proceeds to $20.02 million. The deal priced for about $17.4 million with the greenshoe on March 4.
The company sold 4,881,750 common shares at $4.10 per share. The price per share reflects a 10.87% discount to the March 3 closing share price of $4.60. Of the shares, 636,750 were part of the fully exercised greenshoe.
Ladenburg Thalmann & Co. Inc. was the bookrunning manager.
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: | $20,015,175, including $2,610,675 greenshoe
|
| Shares: | 4,881,750
|
| Price: | $4.10
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
|
| Co-manager: | Craig-Hallum Capital Group LLC
|
| Pricing date: | March 4
|
| Settlement date: | March 7
|
| Stock symbol: | Nasdaq: MNDL
|
| Stock price: | $4.60 at close March 3
|
| Market capitalization: | $133 million
|
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