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Benzinga
Benzinga
Business
Anusuya Lahiri

Digimarc To Raise $58.3M Via Secondary Share Sale At Discount; Shares Pop

DMRC Nasdaq
  • Product digitization firm Digimarc Corp (NASDAQ:DMRC) agreed to sell 2.25 million shares at $25.90 per share in a secondary offering.
  • The offer price implies a 1.6% discount to Digimarc's April 5 closing of $26.32.
  • The gross proceeds from the offering will likely be $58.3 million. 
  • Digimarc looks to use the offering proceeds for general corporate purposes.
  • The offering will likely close by April 7. 
  • Price Action: DMRC shares traded higher by 7.94% at $28.41 on the last check Wednesday.
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