Monotype Imaging prices 5-million-share offer
Text imaging services provider Monotype Imaging Holdings Inc. of Woburn said it priced a public offering of five million common shares at $12 apiece.
All the stock is being sold by stockholders, and Monotype Imaging will not receive any proceeds from the sale. One stockholders has granted underwriters a 30-day option to purchase up to 750,000 shares of its common stock at the public offering price to cover any over-allotments.
J.P. Morgan Securities Inc. and Banc of America Securities LLC are acting as joint book-running managers, and William Blair & Co., Canaccord Adams Inc., Jefferies & Co. and Needham & Co. acting as co-managers for the offering.
Shares closed yesterday at $11.99 on the Nasdaq Stock Market. The company currently has about 34.3 million shares outstanding. (AP)