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| Home : DragonWave Inc. Closes C$28.7 Million Public Offering of Units Including Full Exercise of the Over-Allotment Option |
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Aug 01
2014 |
DragonWave Inc. Closes C$28.7 Million Public Offering of Units Including Full Exercise of the Over-Allotment Option |
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OTTAWA, ONTARIO--(Marketwired - Aug. 1, 2014) - DragonWave Inc. (the "Company") (TSX:DWI)(NASDAQ:DRWI), a leading global supplier of packet microwave radio systems for mobile and access networks, announced it has closed an underwritten public offering previously announced on July 25, 2014 (the "Offering"). Under the Offering, the Company issued 15,927,500 Units (each a "Unit") inclusive of 2,077,500 Units issued pursuant to the exercise in full of the over-allotment option, at a price to the public of C$1.80 per Unit. Each Unit consists of one common share and one-half of one warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one common share of the Company at an exercise price of C$2.25 per share until August 1, 2016, subject to certain standard adjustments. CIBC is acting as the sole book-runner for the offering and H.C. Wainwright & Co., LLC is acting as lead manager. Upon closing of the Offering, the Warrants began trading on the Toronto Stock Exchange under the symbol "DWI.WT". |
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| Source:http://www.marketwired.com/mw/release.do?id=1934834&sourceType=3 |
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