Datawatch Corp. (NASDAQ: DWCH) said it has priced an underwritten public offering of 1,755,000 shares of its common stock at USD28.50 per share.
Datawatch has also granted the underwriters a 30-day option to purchase up to an additional 263,250 shares to cover over-allotments, if any.
The company said it intends to use the net proceeds from the offering for product development, commercialization of its products, working capital and other general corporate purposes, including repayment of outstanding indebtedness. The offering is expected to close on February 19, 2014, subject to customary closing conditions.
Canaccord Genuity Inc. and William Blair & company, L.L.C. are acting as joint book-running managers for the offering. Cowen and company, LLC and Craig-Hallum Capital Group LLC are acting as co-managers for the offering.