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This article was originally published in The Gray Sheet
Secondary offering of 7 mil. shares is priced at $16.40 per share. Half of the shares are being sold by a selling shareholder. Net proceeds of about $53.6 mil. will go toward debt repayment and other general corporate purposes. The offering is being managed by U.S. Bancorp Piper Jaffray and co-managed by Banc of America Securities, J.P. Morgan Securities and Robertson Stephens
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