ORBCOMM (ORBC) Announces 3M Share Common Offering

April 5, 2018 4:10 PM EDT
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ORBCOMM Inc. (NASDAQ: ORBC) announced today that it has commenced an underwritten public offering of 3,000,000 shares of its common stock. ORBCOMM has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares.

ORBCOMM intends to use the net proceeds from the Offering for general corporate purposes, which may include, among other things, future acquisitions as part of its strategy to pursue growth opportunities, debt repayment, stock repurchases, working capital and/or capital expenditures. Net proceeds may be temporarily invested before use.

Raymond James & Associates, Inc. and Canaccord Genuity LLC are acting as book-running managers for the Offering.

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