This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stock Offerings: Cott

Stocks in this article: COT

BOSTON ( TheStreet) -- Cott (COT - Get Report) shares rallied nearly 7% Thursday after the beverage maker announced pricing details of its stock offering as part of its acquisition of Cliffstar.

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.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs