Document Security Systems Prices $34.5 Million Upsized Public Common Stock Offering
03:28 AM EST, 02/05/2021 (MT Newswires) -- Document Security Systems (DSS) said Thursday that it priced an upsized offering of about 12.3 million common shares at $2.80 per share, for expected gross proceeds of about $34.5 million.
Underwriters have a 45-day option to buy up to an additional 15% of common shares to cover over-allotments, if any. If exercised in full, the total gross proceeds would be about $39.7 million.
Net proceeds, together with their existing cash, will be used to fund the development and growth of the company's new business lines, acquisition opportunities, and general corporate and working capital needs.
Price: 4.3300, Change: -0.0500, Percent Change: -1.14