Business
Rimini Street, Inc. Announces Pricing of its Public Offering of Common Stock
LAS VEGAS--(BUSINESS WIRE)-- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third party
About this update from Rimini Street, Inc.
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nRimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third party support provider for Oracle and SAP software products and a Salesforce partner, today announced the pricing of its previously announced underwritten public offering of 7,750,000 shares of common stock, at a public offering price per share of $7.75, for gross proceeds of approximately $60.0 million and net proceeds of approximately $57.0 million after deducting the underwriting discount, commissions and estimated offering expenses payable by Rimini Street. In connection with the offering, certain selling stockholders of Rimini Street have granted the underwriter a 30-day option to purchase up to an additional 1,162,500 shares of common stock. The offering is expected to close on March 11, 2021, subject to customary closing conditions.\n\nCraig-Hallum Capital Group is acting as the sole managing underwriter for the offering.\n\nRimini Street intends to use the net proceeds for general corporate purposes, including, but not limited to, potential financing transactions that reduce cost of capital, working capital and other business purposes.\n\nThis offering is being made pursuant to shelf registration statements on Form S-3 (File No. 333-228322) and on Form S-3 (File No. 333-228320) filed with the Securities and Exchange Commission (SEC) and declared effective on November 21, 2018. The offering of the shares of common stock will be made by means of a prospectus, including a prospectus supplement, forming a part of each registration statement. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC, and will be available on the SEC’s website at http://www.sec.gov or may be obtained by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, by telephone at (612) 334-6300 or by e-mail at [email protected].\n\nThis press release shall not constitute an offer to sell or a 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 the registration or qualification under the securities laws of any such s...