SITO Mobile Announces Public Offering of Common Stock

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Go back to SITO Mobile Announces Public Offering of Common Stock

SITO Mobile (SITO) Prices 2.67M Share Stock Offering for Proceeds of $10M

September 16, 2016 9:23 AM EDT

SITO Mobile Ltd. (Nasdaq: SITO) announced the pricing of an underwritten public offering of 2,666,667 shares of common stock at a public offering price of $3.75 per share for gross proceeds of $10 million. The Company has also granted the underwriters a 30-day option to acquire up to an additional 400,000 shares on the same terms and conditions to cover overallotments resulting from the offering. The Company expects to receive proceeds of approximately $9,300,000, after the underwriting discount, but excluding any exercise of the underwriters overallotment option. The offering is expected... More