CachetFinancial Solutions Inc. has registered a common stock offeringwith a proposed maximum aggregate offering price of $20 million.
The amount, which was estimated solely to calculate theregistration fee, includes common shares that may be issued upon the exerciseof a 30-day option granted to the underwriters to cover overallotments, if any.
The company plans to use the net proceeds to repay debt,among other things. The company intends to apply to list thecommon stock on the Nasdaq Capital Market under the symbol CAFN. The offeringwill only occur if Nasdaq approves the listing of the company's common stock.
Cachet also disclosed that it plans to effectuate a 1:15reverse stock split of its common stock in July.
Ladenburg Thalmann & Co. Inc. is the sole book-runningmanager for the offering.