Impinj, Inc. Announces Closing of Follow-On Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares
December 7, 2016 - Seattle, WA
Impinj, Inc. (NASDAQ:PI), a leading provider and pioneer of solutions for identifying, locating and authenticating everyday items using RAIN RFID, today announced the closing of its follow-on public offering of 4,043,249 shares of common stock at a price to the public of $27.00 per share, which included the full exercise of the underwriters’ option to purchase 527,380 additional shares from Impinj. The number of shares sold in the offering included 1,527,380 shares sold by Impinj and 2,515,869 shares sold by certain selling stockholders. The company estimates net proceeds from the offering to be approximately $38.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. Impinj did not receive any proceeds from the sale of the shares by the selling stockholders.
Morgan Stanley, RBC Capital Markets, Pacific Crest Securities, a division of KeyBanc Capital Markets, and Piper Jaffray acted as joint book-running managers for the offering. Needham & Company acted as lead manager and Canaccord Genuity acted as co-manager.
The offering was made only by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, or by email to [email protected], or by telephone at (877) 822-4089; Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., Attention: Equity Syndicate, 127 Public Square, 4th Floor, Cleveland, Ohio 44114, or by telephone at (800) 859-1783; and Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, Minneapolis, MN 55402, or by email to [email protected], or by telephone at (800) 747-3924.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on December 1, 2016. Copies of the registration statement, as amended, can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Impinj, Inc. (NASDAQ: PI) wirelessly connects billions of everyday items such as apparel, medical supplies, automobile parts, luggage and food to consumer and business applications such as inventory management, patient safety, asset tracking and item authentication. The Impinj platform uses RAIN RFID to deliver timely information about these items to the digital world, thereby enabling the Internet of Things.