Independent investment bank B. Riley & Co. LLC has acted as joint book-running manager in a common stock offering for CalAmp, which resulted in proceeds of $47.9 million.
CalAmp intends to use the net proceeds to fund a portion of its $53 million Wireless Matrix Corp. (WSMXF, WRX.TO) acquisition, for which B. Riley is the exclusive financial advisor.
The offering, which closed February 20, 2013, consisted of 5,175,000 shares priced at $9.25 per share, including an overallotment of 675,000 shares, which the underwriters exercised in full.
Managing Director Mark Davis, Senior Vice President Salomon Kamalodine, and Associate Chris Sigala led the banking team on behalf of B. Riley.
In connection with the offering, Canaccord Genuity acted as joint book-running manager; Craig-Hallum Capital Group LLC, Northland Securities Inc. and First Analysis Securities Corp. acted as co-managers.
B. Riley’s investment banking services include merger and acquisitions advisory to public and private middle market companies, initial and secondary public offerings, and institutional private placements. The bank provides a comprehensive line of corporate finance, research, sales, trading, and otcqx dad services to corporate, institutional, and high net worth individual clients.
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