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) 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) 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) 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) 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV