Leaf Group’s $22 Million Initial Public Offering

Faegre Baker Daniels advised Craig-Hallum Capital Group LLC acting as the sole book-running manager on the offering

Leaf Group Ltd. (NYSE:LFGR), a diversified consumer internet company comprised of several marketplace and media properties, announced today the pricing of an underwritten registered public offering of 2,933,333 shares of its common stock at a price to the public of $7.50 per share, for gross proceeds of approximately $22.0 million. In addition, Leaf Group granted the underwriter a 30-day option to purchase up to an additional 439,999 shares of its common stock to cover over-allotments, if any. All shares of common stock sold in the offering are being sold by Leaf Group. Leaf Group expects to close the offering on or about February 12, 2018, subject to the satisfaction of customary closing conditions.

Leaf Group anticipates that the aggregate net proceeds from the offering will be approximately $20.2 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Leaf Group, but excluding any exercise of the underwriter’s option to purchase additional shares of common stock. Leaf Group intends to use the net proceeds from the offering for working capital and general corporate purposes. Leaf Group may also use a portion of the net proceeds to acquire or invest in complementary businesses, products and technologies, although Leaf Group has no specific agreements, commitments or understandings to do so at this time.

Jon Zimmerman (Picture), the head of FaegreBD’s capital markets practice, together with Morgan Burns, Ben Stacke and Ryan Woessner, led the deal teams for the offerings, along with Elena Simion, Jonny Nemani and Sarah Bartlett.

Involved fees earner: Jonathan Zimmerman – Faegre Baker Daniels; Ryan Woessner – Faegre Baker Daniels; Ben Stacke – Faegre Baker Daniels; Elena Simion – Faegre Baker Daniels; Morgan Burns – Faegre Baker Daniels; Sarah Bartlett – Faegre Baker Daniels;

Law Firms: Faegre Baker Daniels;

Clients: Craig-Hallum Capital Group LLC;


Author: Ambrogio Visconti