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Merriman Capital Advises OCZ Technology Group On LATEST Common Stock Offering And Seventh Transaction

Stocks in this article: MERR OCZ

 

SAN FRANCISCO, Feb. 14, 2012 /PRNewswire/ -- Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR), announced today it acted as exclusive financial advisor in connection with OCZ Technology Group, Inc.'s (NASDAQ:OCZ) $108 million common stock offering that closed on February 13, 2012.

(Logo: http://photos.prnewswire.com/prnh/20100914/SF64919LOGO)

The offering consisted of 12 million primary shares at a price of $9 per share. OCZ will receive approximately $100.6 million in net proceeds from the offering, or approximately $115.8 million if the underwriters exercise their overallotment option in full. The Company will use the net proceeds for general corporate purposes, including the repayment of outstanding borrowings under its agreement with Silicon Valley Bank for asset-based financing.

This is the seventh transaction in which Merriman Capital has served as financial advisor or placement agent for OCZ. Aside from the latest transaction, Merriman lead managed three private placements for OCZ in 2010, totaling nearly $55 million; co-managed a $100 million public offering in 2011; and advised on two acquisitions: Korean-based Indilinx (recently named the eighth top technology story of 2011 by Maximum PC) and Israel-based SanRad Inc.

Further details on the transaction can be found at OCZ's website: http://www.ocztechnology.com/.

 

About OCZ Technology Group, Inc.



Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. ("OCZ"), is a leader in the design, manufacturing, and distribution of high performance and reliable Solid State Drives (SSDs) and premium computer components. OCZ has built on its expertise in high-speed memory to become a leader in the SSD market, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). SSDs are faster, more reliable, generate less heat and use significantly less power than the HDDs used in the majority of computers today. In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products as well leading-edge computer gaming solutions. For more information, please visit: www.ocztechnology.com.

 

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