Digi Int'l (DGII) Announces Proposed Public Offering of Common Stock

Digi International Inc. (Nasdaq: DGII) (Digi), a leading global provider of business and mission critical Internet of Things (IoT) products, services and solutions, announced today that it intends to offer and sell shares of its common stock in an underwritten registered public offering. In addition, Digi expects to grant the underwriters a 30-day option to purchase an additional 15% of the shares of its common stock offered in the proposed offering on the same terms and conditions. All shares of common stock to be sold in the proposed offering will be sold by Digi. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Digi intends to use the net proceeds from the proposed offering, if completed, for working capital and general corporate purposes. Digi may also use the net proceeds to acquire or invest in complementary businesses, products and technologies, although Digi has no specific agreements, commitments or understandings to do so at this time.

Piper Sandler is acting as sole book-running manager for the proposed offering.

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