By a News Reporter-Staff News Editor at Investment Weekly News -- Cachet Financial Solutions, Inc. (OTCBB: CHTF), a leading financial services technology provider of remote deposit capture ("RDC") and mobile wallet solutions, has priced its initial public offering of 4,500,000 shares of its common stock at a price to the public of $1.50 per share. The shares are expected to begin trading on the OTCBB on July 9, 2014, under the symbol "CHTF." In addition, Cachet Financial Solutions has granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock at the initial public offering price to cover over-allotments, if any. The gross proceeds from the offering will be approximately $6,750,000, or $7,762,500 if the over-allotment option is exercised in full, prior to deducting underwriting commissions and offering expenses.
Northland Capital Markets is acting as sole book-running manager for the offering. The Benchmark Company and MLV & Co. are acting as co-managers for the offering. Northland Capital Markets is the trade name for certain capital market and investment banking services of Northland Securities, Inc., member FINRA/SIPC.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on July 8, 2014. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Northland Capital Markets, 45 South Seventh Street, Suite 2000, Minneapolis, MN 55402 - Attention: Adam Sandvig, firstname.lastname@example.org.
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