ORBCOMM Announces Launch of Public Offering of Common Stock
ORBCOMM Inc. (ORBC)
Last orbcomm inc. earnings: 4/30 07:00 am
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US:NASDAQ Investor Relations:
investors.orbcomm.com/investor-overview
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Source: Business Wire
ROCHELLE PARK, N.J.--(BUSINESS WIRE)-- ORBCOMM Inc. (Nasdaq:ORBC), a global provider of industrial Internet of Things (IoT) solutions, announced today that it has commenced an underwritten public offering (the “Offering”) of 3,000,000 shares of its common stock. ORBCOMM has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares. ORBCOMM intends to use the net proceeds from the Offering for general corporate purposes, which may include, among other things, future acquisitions as part of its strategy to pursue growth opportunities, debt repayment, stock repurchases, working capital and/or capital expenditures. Net proceeds may be temporarily invested before use. Raymond James & Associates, Inc. and Canaccord Genuity LLC are acting as book-running managers for the Offering. A shelf registration statement on Form S-3 relating to the public offering of the shar
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