Digital Turbine Prices Offering Of 7.60 Mln At $1.57/shr - Quick Facts

(RTTNews) - Digital Turbine, Inc. (APPS) announced the pricing of its public offering of 7.60 million shares of common stock at a price to the public of $1.57 per share.

The net proceeds to Digital Turbine from this offering are expected to be approximately $11.2 million, after deducting underwriting discounts. In addition, Digital Turbine has also granted the underwriter a 30-day option to purchase up to 1.14 million additional shares of common stock.

The Company expects to use the net proceeds from the offering for organic business opportunities, product development, general corporate purposes, working capital and capital expenditures.