trending Market Intelligence /marketintelligence/en/news-insights/trending/rtBedQYAHNWrrDnvTsJCrw2 content esgSubNav
In This List

Synacor prices common stock offering

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

SVOD players open to hybrid models; Netflix and Disney to add ad-supported plans

Blog

Does Disney+ Hotstar minus IPL equal trouble for the streaming giant?

Blog

Broadband revenues continue to grow in CEE


Synacor prices common stock offering

Synacor Inc. priced 5,715,000 shares of its common stock at $3.50 a share.

The company also granted the underwriters a 30-day option to purchase an additional 857,250 common shares. Synacor is selling all of the shares in the offering, which is expected to close on or about April 11, subject to customary closing conditions.

Synacor plans to use the net proceeds for general corporate reasons and working capital. Synacor may also use a portion of the net proceeds to acquire or invest in businesses, products or technologies it considers complementary to its own. However, the company is not planning or negotiating any such deals currently.

Further, the company believes the net proceeds will strengthen its balance sheet and let it acquire, or finance on more attractive terms, equipment and make other capital investments needed to support additional customers and the delivery of additional services to existing customers.

Canaccord Genuity and Needham & Co. are acting as joint book-running managers for the offering.