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Over-allotment exercised on Towerstream offering

Nov. 01, 2016 12:46 PM ETTowerstream Corporation (TWER) StockBy: Jason Aycock, SA News Editor1 Comment
  • Towerstream (OTCPK:TWER) moves into positive ground, +1.7%, after noting the underwriter in its recent public offering has exercised full over-allotment rights, opting to buy an additional 444,444 shares of common stock.
  • The overallotment comes at $1.35/share; Towerstream's at $1.17 now.
  • Laidlaw acted as sole book-runner. With the over-allotment, the company issued just over 3.407M shares of common stock for gross proceeds of about $4.6M.

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