B. Riley has 30-day greenshoe for 1,181,475 more shares
By Susanna Moon
Chicago, Feb. 26 - WidePoint Corp. said it priced its $10.9 million public offering of shares and added a 30-day over-allotment option for another 1,181,475 shares.
The company plans to issue 7,876,497 shares at $1.38 each, which is an 8.61% discount to the company's closing price on Feb. 24.
B. Riley & Co., LLC is the bookrunning manager.
Proceeds will be used for general corporate purposes including the repayment of debt, acquiring businesses and investing in other businesses.
The company is a provider of information technology based products, services and solutions based in McLean, Va.
| Issuer: | WidePoint
|
| Issue: | Shares
|
| Amount: | $10.9 million
|
| Greenshoe: | For 1,181,475 shares
|
| Shares: | 7,876,497
|
| Price: | $1.38
|
| Warrants: | No
|
| Bookrunner: | B. Riley & Co., LLC
|
| Pricing date: | Feb. 25
|
| Stock symbol: | NYSE: WYY
|
| Stock price: | $1.51 at close Feb. 24
|
| Market capitalization: | $97.06 million
|
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