Identiv Announces Pricing of Public Offering of Common Stock
May 19 2017 - 08:30AM
Identiv, Inc. (NASDAQ:INVE) today announced the pricing of an
underwritten public offering of 2,474,226 shares of its common
stock at a public offering price of $4.85 per share. The gross
proceeds to Identiv from this offering, before deducting
underwriting discounts and commissions and offering expenses
payable by Identiv, are expected to be approximately $12
million. All of the shares are being offered by Identiv. The
offering is scheduled to close on or about May 24, 2017, subject to
customary closing conditions. In addition, Identiv has granted to
the underwriter a 30-day option to purchase up to an additional
371,134 shares of its common stock at the public offering price,
less underwriting discounts and commissions.
Identiv intends to use the net proceeds from the offering for
working capital and other general corporate purposes. Identiv may
also use a portion of the net proceeds from the offering to acquire
or invest in complementary businesses, technologies or other
assets, although it has no present commitments or agreements to do
so.
Northland Capital Markets is acting as the sole bookrunner for
the offering.
The shares will be issued pursuant to a shelf registration
statement previously filed with and subsequently declared effective
by the Securities and Exchange Commission (SEC). A preliminary
prospectus supplement and accompanying prospectus relating to the
offering has been filed with the SEC and is available on the SEC’s
website at http://www.sec.gov. A final prospectus supplement and
accompanying prospectus will be filed with the SEC. A copy of
the final prospectus supplement and accompanying prospectus
relating to the offering, when available, may be obtained by
contacting Northland Capital Markets at 45 South Seventh Street,
Suite 2000, Minneapolis, Minnesota 55402, attention: Heidi
Fletcher, by calling toll free at (800) 851-2920, or by e-mailing
hfletcher@northlandcapitalmarkets.com.
This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction. Any offer,
if at all, will be made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement.
About IdentivIdentiv, Inc. is a global provider
of physical security and secure identification. Identiv’s products,
software, systems, and services address the markets for physical
and logical access control and a wide range of RFID-enabled
applications. Customers in the government, enterprise, consumer,
education, healthcare, and transportation sectors rely on Identiv’s
access and identification solutions. Identiv’s mission is to secure
the connected physical world: from perimeter to desktop access, and
from the world of physical things to the Internet of Everything.
Identiv is a publicly traded company and its common stock is listed
on the NASDAQ Capital Market in the U.S. under the symbol “INVE.”
For more information, visit identiv.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements can be identified by
words such as: “anticipate,” “intend,” “plan,” “expect,” “believe,”
“should,” “may,” “will” and similar references to future periods.
Examples of forward-looking statements include, among others,
statements relating to Identiv’s expectations regarding the
anticipated closing date of the offering, and its intentions with
respect to the use of net proceeds from the offering.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based on our
current beliefs, expectations and assumptions regarding the future
of our business, future plans and strategies, anticipated events
and trends, the economy and other future conditions.
Forward-looking statements involve risks and uncertainties, which
could cause actual results to differ materially, and reported
results should not be considered as an indication of future
performance. These risks and uncertainties include, but are not
limited to, those relating to the satisfaction of conditions to the
closing of the offering, and other risks set forth in Identiv’s
filings with the Securities and Exchange Commission, including
the risks set forth in Identiv’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2016. These forward-looking
statements speak only as of the date hereof
and Identiv specifically disclaims any obligation to
update these forward-looking statements.
Investor Relations Contact:
IR@identiv.com
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