Red Violet closes USD 115 million follow-on common stock offering
RDVT•Follow-on offering closes with full greenshoe exercise
Red Violet closed an underwritten public offering of 1,916,667 common shares, including the full exercise of the 250,000-share over-allotment option.
Gross proceeds totaled USD 115 million; estimated net proceeds were about USD 108.6 million.
The company said it expects to use the proceeds for working capital, general corporate purposes, and potential strategic acquisitions.
Raymond James and Needham served as joint bookrunners, and B. Riley Securities and Craig-Hallum were co-managers.
