Identiv Announces Launch of Public Offering of Common Stock

Rhea-AI Summary

Identiv (Nasdaq: INVE) announced plans for an underwritten public offering of common stock. The shares will be sold solely by Identiv, and underwriters may purchase an additional 15% within 30 days. The offering is subject to market conditions, with no assurance on completion or terms. B. Riley Securities leads the offering, with Lake Street Capital Markets and Northland Capital as co-managers. A shelf registration was filed with the SEC, effective March 25, 2021. This announcement does not constitute an offer to sell securities.

Positive

• Identiv plans an underwritten public offering, which may strengthen its capital base.
• Underwriters have the option to purchase an additional 15% of shares, indicating confidence in demand.

Negative

• The offering may lead to shareholder dilution if additional shares are issued.

FREMONT, Calif., April 07, 2021 (GLOBE NEWSWIRE) -- Identiv, Inc. (Nasdaq: INVE) today announced that it intends to offer shares of its common stock for sale in an underwritten public offering. All of the shares in the offering are being offered by Identiv. In addition, Identiv expects to grant the underwriters a 30-day option to purchase up to an additional 15% of shares of its common stock on the same terms and conditions. The offering is subject to market and other 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.

B. Riley Securities is acting as the sole book-running manager for the offering. Lake Street Capital Markets, LLC is acting as lead manager and Northland Capital Markets is acting as a co-manager for the offering.

A shelf registration statement relating to the shares was filed with the Securities and Exchange Commission (the “SEC”) and became effective on March 25, 2021. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and, when available, may be obtained from B. Riley Securities, Attention: Prospectus Department, 1300 17^th St. North, Ste. 1300, Arlington, VA 22209, by telephone at (703) 312-9580 or by email at prospectuses@brileyfin.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

About Identiv, Inc.

Identiv, Inc. is a global leader in digitally securing the physical world. Identiv’s platform encompasses RFID and NFC, cybersecurity, and the full spectrum of physical access, video, and audio security.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as those, among others, relating to Identiv’s expectations regarding the completion and timing of the public offering, and its expectations with respect to granting the underwriters a 30-day option to purchase additional shares. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the public offering. More information about the risks and uncertainties faced by Identiv is contained in the section captioned “Risk Factors” in the preliminary prospectus supplement related to the public offering and are detailed from time to time in Identiv’s periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Identiv disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Identiv, Inc.

Contact:
Matt Glover and Charlie Schumacher
Gateway Investor Relations
+1 949.574.3860
IR@identiv.com

FAQ

What is Identiv's stock offering plan?

Identiv plans to offer shares of its common stock in an underwritten public offering.

When was the SEC registration for Identiv's offering effective?

The shelf registration statement became effective on March 25, 2021.

Who is managing Identiv's public offering?

B. Riley Securities is the sole book-running manager, with Lake Street Capital and Northland Capital as co-managers.

What is the potential impact of the offering on shareholders?

The public offering may result in shareholder dilution if additional shares are issued.