NetSol Technologies (NTWK) Prices 14.5M Share Offering at $0.40/Share,
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NetSol Technologies, Inc. (Nasdaq: NTWK) today announced the pricing of an underwritten public offering of 14,500,000 shares of its common stock, offered at a price to the public of $0.40 per share, for gross proceeds of $5,800,000.
Net proceeds to NetSol, after deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $5,200,000. NetSol anticipates using the net proceeds from the offering for working capital and other general corporate purposes, which may include product development costs, marketing and sales, repayment of debt and expansion of NetSol's development capabilities.
In addition, NetSol has granted the underwriters an option to purchase up to an additional 2,175,000 shares of its common stock to cover over-allotments, if any. The offering is expected to close on or about March 7, 2012, subject to customary closing conditions. Aegis Capital Corp. is acting as sole book-running manager for the offering.
Net proceeds to NetSol, after deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $5,200,000. NetSol anticipates using the net proceeds from the offering for working capital and other general corporate purposes, which may include product development costs, marketing and sales, repayment of debt and expansion of NetSol's development capabilities.
In addition, NetSol has granted the underwriters an option to purchase up to an additional 2,175,000 shares of its common stock to cover over-allotments, if any. The offering is expected to close on or about March 7, 2012, subject to customary closing conditions. Aegis Capital Corp. is acting as sole book-running manager for the offering.
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