MoSys Inc. (MOSY) announced that it has priced an underwritten public offering of 6.50 million shares of its common stock at a price of $4.00 per share.
The company said it has also granted to the underwriters a 30-day option to acquire up to an additional 975,000 shares to cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $24.2 million, assuming no exercise of the overallotment option. The offering is expected to close on May 17, 2013, subject to customary closing conditions.
The company stated that it intends to use the net proceeds from the offering for working capital and general corporate purposes.
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