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OCZ Closed Common Stock Offering
This is a Press Release edited by StorageNewsletter.com on Tue, February 14th, 2012
Receiving $101 million in net proceeds
The underwriters were granted a 30-day overallotment option to purchase, on the same terms, up to an additional 1,800,000 primary shares. OCZ received approximately $101 million in net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses.
The company intends to use the net proceeds from the offering for general corporate purposes, including the repayment of outstanding borrowings under its agreement with Silicon Valley Bank for asset-based financing.
Credit Suisse Securities (USA) LLC and Stifel Nicolaus Weisel acted as joint book-running managers for the offering. Piper Jaffray & Co. and Needham & company, LLC served as co-managers for the offering.
Read also:
OCZ Announces Upsizing and Pricing of Common Stock Offering
Of 12 million primary shares at $9 per share
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