Business
Anterix Announces Upsizing and Pricing of Follow-On Offering
WOODLAND PARK, N.J., July 16, 2019 /PRNewswire/ -- pdvWireless, Inc. d/b/a Anterix (or "Anterix") (NASDAQ: ATEX), today announced the pricing of its upsized
About this update from Anterix Inc.
[{"type":"text","content":"\n WOODLAND PARK, N.J., July 16, 2019 /PRNewswire/ -- pdvWireless, Inc. d/b/a Anterix (or \"Anterix\") (NASDAQ: ATEX), today announced the pricing of its upsized underwritten public offering of 2,222,223 shares of common stock at a price to the public of $45.00 per share, or approximately $100,000,000 of common stock. The offering was upsized from the previously announced $85,000,000 of common stock. Closing of the offering is expected to occur on July 19, 2019, subject to customary closing conditions. In addition, Anterix has granted the underwriters a 30-day option to purchase up to an additional 333,333 shares of common stock from Anterix at the public offering price less the underwriting discount.\n\n \n\n\n \n\n Anterix intends to use the net proceeds from this offering for retuning its spectrum by relocating incumbents and acquiring additional spectrum to qualify for broadband licenses and to support broadband use. Additionally, Anterix anticipates using the net proceeds for general corporate purposes, which may include, among other purposes, working capital, pursuing regulatory initiatives at the FCC, capital expenditures, other corporate expenses, and acquisitions of assets, licenses, products, technologies or businesses, although there are no present commitments or agreements to do so.\n \n\n \n Morgan Stanley, J.P. Morgan and Evercore ISI are acting as joint book-running managers for the offering. B. Riley FBR and Craig-Hallum Capital Group are acting as co-managers for the offering.\n \n\n \n The offering is being made only by means of a prospectus and a related prospectus supplement. Copies of the prospectus and the prospectus supplement related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; or from Evercore Group L.L.C\n ., c/o Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at [email protected]\n .\n \n\n \n A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the \"SEC\") and was declared effective on April 22, 2019. This pr...