CalAmp Corp. (CAMP) Plans 4.2M Common Stock Offering

February 11, 2013 9:26 AM EST
CalAmp Corp. (NASDAQ: CAMP) announced today that it plans to offer and sell 4,200,000 shares of its common stock in an underwritten public offering. CalAmp also plans to grant the underwriters a 30-day option to purchase up to an additional 630,000 shares to cover over-allotments, if any.

CalAmp expects to use the net proceeds from this offering to fund a portion of the purchase price for its previously announced acquisition of the operations of Wireless Matrix Corporation. If the acquisition is not completed, CalAmp intends to use the net proceeds from this offering to pay transaction expenses, to repay outstanding indebtedness and for other general corporate purposes.

Canaccord Genuity Inc. and B. Riley & Co., LLC are acting as joint book-running managers for the offering. Craig Hallum Capital Group LLC, Northland Securities, Inc. and First Analysis Securities Corporation are acting as co-managers for the offering.

The offering will be made under an effective shelf registration statement filed with the Securities and Exchange Commission ("SEC").

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