Towerstream (TWER) Prices 10M Offering at $3/Share

January 31, 2013 9:17 AM EST
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Towerstream Corporation (Nasdaq: TWER) has priced an underwritten public offering of an aggregate of 10,000,000 shares of its Common Stock, at a price to the public of $3.00 per share. In addition, Towerstream has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 shares of common stock. The offering is expected to close on or about February 5, 2013, subject to customary closing conditions.

The net offering proceeds to Towerstream from this offering are expected to be approximately $27.7 million, after deducting underwriting discounts and commissions and other estimated offering expenses, but excluding any exercise of the underwriters' option to purchase additional shares.

Lazard Capital Markets LLC is acting as sole book-running manager for the offering, with Canaccord Genuity Inc. and D.A. Davidson & Co. acting as the co-managers for the offering.

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