Red Violet launches underwritten public stock offering
What's the deal? Red Violet has launched an underwritten public offering of common stock, with all shares being sold by the company.
The details. Underwriters received a 30-day option to purchase up to an additional 15% of the shares offered.
What's the money for? Red Violet said proceeds will support working capital, general corporate purposes and potential strategic acquisitions. Its shares fell 8.5% in post-market trading following the announcement.
Read more: Seeking Alpha
Image credit: Ken Lund
