Technology Crossover, Polaris sell 5 million shares through Jefferies
By Devika Patel
Knoxville, Tenn., May 22 - TechTarget, Inc. said it priced a $31.25 million secondary offering stock with a $4.69 million greenshoe.
The selling shareholders, Technology Crossover Ventures and Polaris Venture Partners, will sell 5 million common shares at $6.25 apiece. The price per share reflects a 2.4% discount to the May 21 closing share price of $6.40.
Jefferies LLC is the bookrunner.
Settlement is expected on May 28.
The Newton, Mass., company provides online content and brand advertising that brings together buyers and sellers of corporate information technology products.
| Issuer: | TechTarget, Inc.
|
| Issue: | Common stock
|
| Amount: | $31.25 million
|
| Greenshoe: | $4,687,500
|
| Shares: | 5 million
|
| Price: | $6.25
|
| Warrants: | No
|
| Bookrunner: | Jefferies LLC
|
| Co-managers: | Needham & Co., LLC and Craig-Hallum Capital Group LLC
|
| Pricing date: | May 22
|
| Settlement date: | May 28
|
| Stock symbol: | Nasdaq: TTGT
|
| Stock price: | $6.40 at close May 21
|
| Market capitalization: | $219.04 million
|
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