Home seltzer systems maker Sodastream International Ltd. (Nasdaq: SODA) has raised a gross $261.4 million in its secondary offering, of which $52.2 million will accrue to the company itself. This is the largest secondary offering ever made by an Israeli company on Wall Street.
Sodastream offered 6,009,655 shares at $43.50 per share. The company sold 1.2 million, and shareholders sold 4.8 million shares. The underwriters have an over-allotment option to buy an additional 901,448 shares.
Sodastream plans to use the net proceeds of this offering for general corporate purposes, including, but not limited to acquisitions or investments in complementary companies, products or technologies.
Sodastream's share price rose 0.6% at the opening on Nasdaq to $45.30, giving a market cap of $831 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 14, 2011
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