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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Multiband Corporation Announces Closing Of Public Offering Of Common Stock

Multiband Corporation (NASDAQ: MBND), a leading Home Service Provider (HSP) for DIRECTV and the nation’s largest DIRECTV Master System Operator (MSO) for Multiple Dwelling Units (MDUs), today announced the closing of its previously announced public offering of common stock at a price to the public of $3.00 per share. The underwriters exercised, in full, their option to purchase up to 1,680,000 shares at the offering price, resulting in total sales of 12,880,000 shares. Of the shares sold, Multiband sold 5,974,932 shares and the selling shareholder sold 6,905,068 shares.

Multiband intends to use the net proceeds from the offering for working capital and other general corporate purposes, including potential future acquisitions and redemption of its 15% Class E Cumulative Preferred Stock (which is currently owned by two of Multiband’s directors) for approximately $1.95 million. Multiband did not receive any proceeds from the sale of shares by the selling shareholder.

Craig-Hallum Capital Group acted as the sole book-running manager for the offering and Northland Capital Markets acted as co-manager. The offering was made solely by means of a prospectus. Copies of the final prospectus of the offering may be obtained from Craig-Hallum Capital Group at 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, or by calling 612-334-6300.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 25, 2011. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of Multiband, and there shall not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Multiband Corporation

Multiband is a leading national provider of technical installation and fulfillment services to both residential and commercial properties. Multiband operates in 32 states with 28 field offices and employs approximately 3,200 people. The Company has two operating segments: 1) Home Service Provider (HSP), which primarily installs DIRECTV video services for residents of single family homes, and 2) Multi-Dwelling Unit (MDU), which provides voice, data and video services to residents of multiple dwelling units. Multiband is the nation’s second largest independent DIRECTV service provider in the HSP market and the largest nationwide DIRECTV master system operator in the MDU market. The Company operates a call center facility to support its MDU segment and has developed proprietary call center support and billing software applications. Multiband’s strategy is to leverage its current infrastructure, workforce, technology, and national footprint to support its growth initiatives. Multiband is headquartered in Minneapolis, Minnesota.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

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