ShotSpotter, Inc. Announces Closing of Initial Public Offering
Underwriters' Over-Allotment Option Fully Exercised
NEWARK, CA -- (Marketwired) -- 06/12/17 -- ShotSpotter, Inc. ("ShotSpotter") (NASDAQ: SSTI), a gunfire detection and solutions company, today announced the closing of its previously announced initial public offering of common stock. ShotSpotter sold to the underwriters 3,220,000 shares of common stock at a public offering price of $11.00 per share, which includes 420,000 shares of common stock sold upon full exercise of the underwriters' over-allotment option. All of the shares of common stock in the offering were sold by ShotSpotter.
ShotSpotter received aggregate proceeds of approximately $35.4 million, before deducting underwriting discounts and commissions and estimated offering expenses. ShotSpotter's common stock commenced trading on the NASDAQ Capital Market on June 7, 2017 under the trading symbol "SSTI."
Roth Capital Partners acted as the sole book-running manager for the offering and as the representative of the underwriters. Northland Capital Markets acted as co-lead manager and Imperial Capital acted as co-manager for the offering.
A registration statement relating to the shares of common stock sold in the offering was declared effective by the Securities and Exchange Commission (the "SEC") on June 6, 2017. A copy of the registration statement can be accessed by visiting the SEC website at www.sec.gov. The offering of the shares of common stock was made only by means of a final prospectus forming part of the effective registration statement relating to the shares of common stock. The final prospectus relating to the offering was filed with the SEC on June 8, 2017 and is available on the SEC website at www.sec.gov. In addition, copies of the final prospectus relating to the offering may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, California 92660, Attention: Equity Capital Markets at (800) 678-9147.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares of ShotSpotter's common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
About ShotSpotter, Inc.
ShotSpotter is the global leader in gunfire detection and location technology. ShotSpotter's solutions help law enforcement officials and security personnel identify, locate and deter gun violence. ShotSpotter is based in Newark, California and offers its solutions on a SaaS-based subscription model to customers around the world, with current customers located in the United States, Puerto Rico, the U.S. Virgin Islands and South Africa.
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Released June 12, 2017