ShotSpotter, Inc. Announces Pricing of Initial Public Offering
NEWARK, CA -- (Marketwired) -- 06/07/17 -- ShotSpotter, Inc. ("ShotSpotter"), a gunshot detection solutions company, announced today that it has priced its initial public offering of 2,800,000 shares of its common stock at a public offering price of $11.00 per share, for an aggregate offering amount of $30.8 million, before deducting underwriting discounts and commissions and offering expenses payable by ShotSpotter. In addition, ShotSpotter has granted the underwriters a 30-day option to purchase up to 420,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. All of the common stock is being offered by ShotSpotter.
The common stock will begin trading on The NASDAQ Capital Market on June 7, 2017 under the trading symbol "SSTI." The offering is expected to close on June 12, 2017, subject to customary closing conditions.
Roth Capital Partners is acting as sole book-running manager, Northland Capital Markets is acting as co-lead manager, and Imperial Capital is acting as co-manager for the offering.
A registration statement relating to the shares of common stock has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective 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 these shares of common stock is being made only by means of a final prospectus forming part of the effective registration statement relating to these shares of common stock. The final prospectus relating to the offering will be filed with the SEC and will be available on the SEC website at www.sec.gov. In addition, copies of the final prospectus, when available, may be obtained by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (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.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the completion and timing of the public offering. Forward-looking statements are based on ShotSpotter's current expectations and assumptions and are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, including those related to the satisfaction of customary closing conditions related to the public offering. Risks and uncertainties related to ShotSpotter and its business can also be found in ShotSpotter's filings with the SEC, including its registration statement on Form S-1 under the caption "Risk Factors."
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Released June 7, 2017