Identiv Plans To Offer Shares In Public Offering; Stock Down 9%

(RTTNews) - Identiv Inc (INVE), a security technology company that provides trust solutions for premises, information and everyday items, said Wednesday it planst to offer its common shares in an underwritten public offering.

Identiv expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares offered in the offering to cover overallotments, if any.

The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, the company said.

Identiv expects to use the proceeds from the offering for working capital and other general corporate purposes, including acquisitions.

Identiv shares dropped $1.76 or 9.00% at $17.80 in after-hours trade on the Nasdaq.