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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., Nov. 23, 12:29 AM

Slide #5. On Track Innovations Ltd (oti) Secondary Offering

Company: On Track Innovations Ltd (oti) (NASDAQ:OTIV)
Date announced: 11/20/2014
Shares Offered: 6,250,000
Date of Pricing: 11/21/2014
Price Per Share: $1.60
Secondary Offering Details: On Track Innovations Ltd (oti) (NASDAQ: OTIV) today announced that it intends, subject to market and other conditions, to offer its ordinary shares in an underwritten public offering pursuant to its existing shelf registration statement. The company also intends to grant the underwriter of the offering a 30-day option to purchase additional ordinary shares to cover over-allotments, if any. Northland Capital Markets is acting as sole underwriter for the offering. - updated 11/21 - On Track Innovations Ltd (oti) (NASDAQ: OTIV) today announced that it has priced an underwritten public offering of 6,250,000 ordinary shares at a price of $1.60 per ordinary share for aggregate gross proceeds of $10 million. oti expects net proceeds, after underwriting discounts and commissions and estimated offering expenses payable by oti, of approximately $9.1 million. oti has also granted to the underwriter a 30-day option to purchase up to an additional 937,500 of its ordinary shares to cover over-allotments, if any. The offering is expected to close on or about November 26, 2014, subject to satisfaction of customary closing conditions. Northland Capital Markets is acting as the sole underwriter for the offering.

On Track Innovations is engaged in the design and development of cashless payment solutions. Co. has three segments: Petroleum, which includes manufacturing and selling of fuel payment and management solutions; Retail and Mass transit, which includes selling and marketing variety of products for cashless payment solutions for the retail market and mass transit ticketing; and Parking, which includes selling of products and managing cashless parking solutions. Co.'s products consist of WAVE, WAVE Public Key Infrastructure, oti Payment Insert, oti Saturn® 6500, oti Reader 6100, oti Saturn® 6000, EasyFuel Plus®, EasyPark® In Vehicle Parking Meter, EasyPark® Mobile, and MediSmart®, among others.
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Company Name:  On Track Innovations (Israel)
Sector:  Business Services & Equipment

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November 23, 2014    12:29 AM Eastern
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