Cinedigm Prices $27.54 Mln Stock Offering

(RTTNews) - Cinedigm Corp. (CIDM) said Thursday that it has priced its underwritten public offering of 10.2 million shares of Class A common stock at a price per share of $2.70.

Additionally, the company has granted the underwriter an option for 30 days to purchase up to 1.53 million additional shares of Class A common stock to cover over-allotments, if any.

The company plans to use the about $25.7 million in net proceeds for working capital, to fund potential future acquisitions and other general corporate purposes.

The offering is expected to close on March 25.

Piper Jaffray & Co. is acting as the sole manager of the offering.