Digital Turbine, Inc. (NASDAQ: APPS) said it has closed on its public offering of 8,740,000 shares of common stock (which includes the underwriter´s option to purchase an additional 1,140,000 shares) at a price to the public of USD1.57 per share.
Total net proceeds were approximately USD12.9 million, after deducting underwriting discounts.
B. Riley & Co., LLC acted as the underwriter for the offering.
Bill Stone, CEO, Digital Turbine, stated, “Digital Turbine is increasing its advertising business, including our Ignite and IQ solutions and our Appia platform, and this transaction strengthens our financial flexibility to support our growth for the future.”
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.