WINNIPEG, March 18, 2013 /PRNewswire/ - IMRIS Inc. ("IMRIS" or the "Company") (NASDAQ: IMRS; TSX: IM) today announced that it has closed its underwritten public offering of 5,750,000 common shares at a public offering price of US$3.50 per share. The gross proceeds to IMRIS, before underwriting commissions and other offering expenses, were approximately US$20.1 million.
Canaccord Genuity acted as sole book-running manager for the offering and Cowen and Company, LLC acted as co-manager.
IMRIS intends to use the net proceeds from this offering for working capital and general corporate purposes, including commercialization activities of new products, research and development programs and working capital needs.
The offering was conducted in the United States pursuant to the Company's effective shelf registration statement filed with the U.S. Securities and Exchange Commission (the "SEC") and in Canada pursuant to a final short form base shelf prospectus filed with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec. The offering was made only by means of a prospectus supplement and accompanying final short form base shelf prospectus. Copies of the prospectus supplement and the accompanying short form base shelf prospectus may be obtained upon request by contacting Canaccord Genuity Inc., Attention: Syndicate Department, 99 High Street, 12th Floor, Boston, Massachusetts 02110, or by telephone at (617) 371-3900. Electronic copies of the prospectus supplement and the accompanying short form base shelf prospectus are available free of charge at www.sedar.com and www.sec.gov, respectively.This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.