Business
Digi International Announces Proposed Public Offering of Common Stock
HOPKINS, Minn.--(BUSINESS WIRE)-- Digi International Inc. (Nasdaq: DGII) (Digi), a leading global provider of business and mission critical Internet of
About this update from Digi International Inc.
[{"type":"text","content":" HOPKINS, Minn.--(BUSINESS WIRE)--\nDigi International Inc. (Nasdaq: DGII) (Digi), a leading global provider of business and mission critical Internet of Things (IoT) products, services and solutions, announced today that it intends to offer and sell shares of its common stock in an underwritten registered public offering. In addition, Digi expects to grant the underwriters a 30-day option to purchase an additional 15% of the shares of its common stock offered in the proposed offering on the same terms and conditions. All shares of common stock to be sold in the proposed offering will be sold by Digi. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.\n\nDigi intends to use the net proceeds from the proposed offering, if completed, for working capital and general corporate purposes. Digi may also use the net proceeds to acquire or invest in complementary businesses, products and technologies, although Digi has no specific agreements, commitments or understandings to do so at this time.\n\nPiper Sandler is acting as sole book-running manager for the proposed offering.\n\nThe proposed offering is being made pursuant to a shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission (SEC) that became automatically effective on March 2, 2021. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the proposed offering will be filed with the SEC and will be available by visiting the SEC’s website at www.sec.gov or by contacting Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at [email protected]. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.\n\nAbout Digi International\n\nDigi Internation...