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-Augme Technologies prices public offering.


Marketing and advertising technology company Augme Technologies, Inc. (OTCBB : AUGT) said it has priced an underwritten public offering of 8,500,000 shares of its common stock together with warrants to purchase an additional 2,125,000 shares of common stock.

Northland Capital Markets is acting as sole book-running manager. Brean Capital, LLC and Dawson James Securities are selling group members. Northland Capital Markets is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., member FINRA/SIPC.

Each share of stock and warrant will be sold at a price to the public of $0.80, for gross proceeds of approximately $6.8 million. The net proceeds from the sale of the securities, after deducting the underwriter's discounts and other estimated offering expenses payable by the company, will be approximately $6.132 million. In connection with the offering, the company has also granted to the underwriter a 45-day option to purchase from the company up to 1,275,000 additional shares of common stock and warrants for the purchase of 318,750 shares of common stock to cover any over-allotments. The company currently intends to use the net proceeds from this offering for organic expansion in existing and new markets, for general corporate purposes and to pay debt in the amount of $200,000. The offering is expected to close on or about October 3, 2012, subject to the satisfaction of customary closing conditions.

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Publication:Internet Business News
Date:Oct 1, 2012
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