📅 - Telecommunications carrier Cogent Communications Group (cogentco.com) announced on Friday that it has released the price for its underwritten public offering of 9.0 million shares of common stock.
The 9 million shares on offer, including 4 million newly issued shares being sold by Cogent and 5 million shares of common stock offered by selling stockholders, will be priced at $9 per share.
Cogent says the sale of 4 million shares will result in gross proceeds of $36 million.
Lehman Brothers and Bear, Stearns & Co. are acting as joint book-running managers for the offering. Thomas Weisel Partners is acting as joint lead manager and Wachovia Securities and Friedman Billings Ramsey are acting as co-managers.
The offering is expected to close on June 7, 2006. The underwriters have a 30-day option to purchase an additional 1.35 million shares of common stock from Cogent, its chairman and CEO Dave Schaeffer and certain stockholders.
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