Identiv Inc: Rises on plan to raise $35 mln from stock offering

INVE Technologies

08/04/2021 13:09

** Security technology company's shares  INVE.O  up 4.87% to
$11.20 premarket; on track to break three-day losing streak
    ** INVE prices offering of 3.29 mln shares at $10.65/shr,
implying a small discount of ~0.3% as of stock's last close
 urn:newsml:reuters.com:*:nGNX4gxGdb
    ** Co to raise gross proceeds of ~$35 million from the
offering, which is expected to close on April 12 
    ** INVE also grants underwriters a 30-day option to purchase
up to an additional 492,957 shares
    ** Offer size represents ~19.3% of co's free float -
Refinitiv data
    ** B. Riley Securities is acting as the sole book-running
manager, Lake Street Capital Markets as lead manager and
Northland Capital Markets as a co-manager for the offering
    ** Shares up 25.6% for the year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))