ORBCOMM (ORBC) Announces $72M Common Stock Offering
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ORBCOMM (NASDAQ: ORBC) announced an underwritten registered public offering (the “Offering”), subject to market and other conditions, of its shares of common stock, par value $0.001 per share, up to an aggregate sales price of $72 million. ORBCOMM will receive all of the net proceeds from the Offering.
ORBCOMM intends to use the net proceeds from the Offering primarily to fund the acquisition of SkyWave Mobile Communications Inc. (“SkyWave”) announced today. The Offering is not contingent on consummation of the SkyWave acquisition and ORBCOMM may use the net proceeds from the Offering for future acquisitions and for general corporate purposes.
Raymond James & Associates, Inc., Canaccord Genuity Inc. and Macquarie Capital (USA), Inc. are acting as book-running managers for the Offering.
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Create E-mail Alert Related CategoriesEquity Offerings
Related EntitiesRaymond James, Canaccord Genuity, Definitive Agreement, Equity Offerings
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