Business
Exercise of Over-Allotment Op
Exercise of Over-Allotment Op.
About this update from Velocity Composites Plc
[{"type":"text","content":"\n RNS Number : 3175A Velti PLC 31 January 2011 \n \n\n \n January 31, 2011\n \nVelti Announces Exercise of Underwriters' Over-Allotment Option\nDUBLIN, Ireland and SAN FRANCISCO, Jan. 31, 2011 -- Velti plc (Nasdaq:VELT- News), a leading mobile marketing and advertising technology provider for brands, advertising agencies, mobile operators and media, today announced that that the underwriters of its initial public offering in the United States exercised in full their option to purchase an additional 1,877,700 ordinary shares, including 1,407,700 shares sold by Velti and 470,000 shares sold by selling shareholders. As a result, the total initial public offering size is 14,395,708 ordinary shares, which consists of 12,500,000 shares to be sold by Velti and 1,895,708 shares sold by selling shareholders. All shares sold in the offering are being sold at a price to the pubic of $12.00 per share. Velti will not receive any proceeds from the sale of shares by the selling shareholders. \nVelti ordinary shares began trading on the NASDAQ Global Select Market on January 28, 2011 under the symbol \"VELT.\" Jefferies & Company, Inc. are acting as the sole book-running lead manager for the offering. Needham & Company LLC, RBC Capital Markets Corp., Canaccord Genuity Inc., and ThinkEquity LLC are acting as co-managers.\nA registration statement re...