Credit Suisse and RBC Capital were the bookrunning managers for deal
By Devika Patel
Knoxville, Tenn., April 7 - Borderfree, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $12 million greenshoe in full, lifting total proceeds to $92 million. The deal was announced Feb. 18 and priced for $80 million with the greenshoe on March 21.
The company sold 5.75 million common shares at $16.00 apiece. Of the shares, 750,000 were part of the fully exercised greenshoe.
Credit Suisse and RBC Capital Markets were the joint bookrunning managers.
Proceeds will be used for general corporate purposes.
The New York company operates a technology and services platform to enable U.S. retailers to transact with consumers in more than 100 countries and territories worldwide. The company intends to list its common stock on the Nasdaq stock exchange under the symbol "BRDR."
| Issuer: | Borderfree, Inc.
|
| Issue: | Common stock
|
| Amount: | $92 million, including $12 million greenshoe
|
| Shares: | 5.75 million
|
| Price: | $16.00
|
| Warrants: | No
|
| Bookrunners: | Credit Suisse and RBC Capital Markets
|
| Co-managers: | Pacific Crest Securities, Canaccord Genuity, William Blair and Needham & Co.
|
| Announcement date: | Feb. 18
|
| Pricing date: | March 21
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| Settlement date: | April 7
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| Stock exchange: | Nasdaq: BRDR
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