Flexible Electronics News

Identive Announces Closing of Common Stock Offering

Net proceeds were approximately $18.3 million

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Identive Group, Inc. announced the closing of its previously announced public offering of 7,843,137 shares of its common stock at a price to the public of $2.55 per share. The net proceeds to Identive from the sale of the shares, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $18.3 million. As previously disclosed, the underwriters have an option, exercisable for 30 days from May 24, 2011, to purchase up to 1,176,470 additional shar...

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