Datalink Prices Public Offering Of 3.30 Mln Shares At $11/shr - Quick Facts

(RTTNews) - Datalink corp. (DTLK), a provider of data center infrastructure and services, announced that it has priced an underwritten public offering of 3.30 million shares of its common stock at $11.00 per share.

The underwriters have a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 495,000 shares to cover over-allotments, if any. The offering is expected to close on August 14, 2013, subject to customary closing conditions.

The company noted that it expects to receive net proceeds of $33.8 million, after deducting underwriting discounts and estimated offering expenses, assuming no exercise of the underwriters' over-allotment option.

The company stated that it intends to use the net proceeds from the offering for potential acquisitions of other businesses or technology that will complement its current business model and growth plans, although it has no present commitments or agreements to do so. Any amount of the net proceeds of this offering not used for acquisitions will be used for general corporate purposes, including working capital.