Cott said it has priced its offering of 11.6 million shares of common stock at $5.60 per share, which should yield gross proceeds of approximately $65 million. Cott has granted underwriters a 30-day option to purchase an additional 1.74 million common shares to cover overallotments, if any.
Cott said it will use net proceeds of roughly $62.4 million to help fund its acquisition of juice maker Cliffstar. The remaining portion will be funded through a draw-down on its asset based lending facility, Cott said.
Shares of Cott were rising 38 cents, or 6.7%, to $6.05. More than 5.4 million shares changed hands less than two hours into Thursday's trading session, compared with the average daily share volume of 622,000.Elsewhere, Martin Midstream Partners (MMLP - Get Report) said it has priced its offering of 1 million common units at $29.13 per unit. Martin Midstream offered another 150,000 shares to underwriters to cover overallotments, if any. Shares of Martin Midstream were down $1.51, or 5%, to $29. United Community Banks (UCBI - Get Report) filed for a $200 million mixed shelf offering in order "to go to market in an efficient and timely manner as capital needs may arise," CEO Jimmy Tallent said in a statement. Shares of United Community were down 9 cents, or 3.2%, to $2.76. In IPO news, RealPage (RP - Get Report) rallied in its trading debut after the software provider to the apartment rental industry priced its initial public offering of 12.3 million shares at $11 per share. Previously, RealPage said it would offer 13.5 million shares in a range of $13 to $15 per share. The stock was lately up 22.4% to $13.46. Meanwhile, MakeMyTrip (MMYT - Get Report) shares also surged in their trading debut on the Nasdaq after the travel Web site priced its offering of 5 million shares at $14 per share, at the top end of its projected range. The stock was jumping by 75.4% to $24.55. -- Written by Robert Holmes in Boston. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.