15th Anniversary
You are here:  Home  >  Banking & Finance  >  Current Article

CalAmp to offer 4.2M shares to fund acquisition

By   /   Tuesday, February 12th, 2013  /   Comments Off

    Print       Email

CalAmp said Feb. 11 that it plans to sell 4.2 million shares of common stock in an underwritten public offering that could raise about $40 million for the Oxnard-based wireless products maker.

The proceeds would be used to partially fund the purchase of Wireless Matrix Corp., a $53 million all-cash deal announced in December.

Canaccord Genuity and B. Riley & Co. are joint book-running managers and Craig Hallum Capital Group, Northland Securities and First Analysis Securities Corp. are co-managers for the offering.

CalAmp shares soared 10.7 percent to $10.05 by late afternoon in New York on Feb. 12.

    Print       Email

You might also like...

Lynda.com Co-founder and Chief Innovation Officer Bruce Heavin and co-founder and Executive Chair Lynda Weinman at the company's Carpinteria headquarters. (Business Times file photo)

Customer list, library drive $1.5B merger

Read More →