Mandalay Digital Group Prices $12 Mln Underwritten Offering

(RTTNews) - Mandalay Digital Group Inc. (MNDL) announced that it has priced an underwritten public offering of shares of common stock at a public offering price of $2.48 per share for gross proceeds of approximately $12 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company.

The company said it has also granted the underwriter a 30-day option to purchase up to an additional 725,806 shares of common stock to cover over-allotments, if any.

The offering is expected to close on or about August 21, 2013, subject to satisfaction of customary closing conditions.