Digital Turbine, Inc. (NASDAQ: APPS) said it plans to make a public offering of its common stock and to use the net proceeds for organic business opportunities, product development, general corporate purposes, working capital and capital expenditures.
In connection with the offering, B. Riley & Co., LLC is acting as the underwriter. Digital Turbine intends to grant the underwriter a 30-day option to purchase additional shares of its common stock.
Digital Turbine works at the convergence of media and mobile communications, delivering end-to-end products and solutions for mobile operators, app advertisers, device OEMs and other third parties to enable them to effectively monetize mobile content and acquire higher value users. The company is headquartered in Austin, Texas with global offices in Durham, Berlin, Singapore, Sydney and Tel Aviv.