Procera Networks (PKT) Prices 4.5M Common Offering at $21/Share
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Procera Networks, Inc. (Nasdaq: PKT), has priced a common stock offering of 4,500,000 primary shares at a price to the public of $21.00 per share. The underwriters have a 30-day option to purchase up to an additional 675,000 shares to cover over allotments, if any.
Procera will receive $88.1 million in net proceeds from the offering after deducting underwriting discounts and commissions and estimated offering expenses. Procera intends to use the net proceeds from the offering for working capital and general corporate purposes including potential acquisitions. The offering is expected to close on April 25, 2012, subject to satisfaction of customary closing conditions.
Procera will receive $88.1 million in net proceeds from the offering after deducting underwriting discounts and commissions and estimated offering expenses. Procera intends to use the net proceeds from the offering for working capital and general corporate purposes including potential acquisitions. The offering is expected to close on April 25, 2012, subject to satisfaction of customary closing conditions.
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