Finjan Announces Exercise of Over-Allotment Option by Underwriter

Finjan Holdings (NASDAQ:FNJN) has announced that the underwriter of its previously announced public offering of 3.6 million shares of its common stock has exercised the option to purchase an additional 540,000 shares to cover over allotments bringing the gross proceeds from the offering to $13 million.
As quoted in the press release:

The exercise of the over-allotment option closed on July 25, 2017. All shares were offered and sold by Finjan with B. Riley & Co., LLC acting as the sole bookrunner in the offering.
“Our partnership with B. Riley has now extended through several transactions and we appreciate their confidence both in Finjan’s recent business achievements and future growth prospects,” said Phil Hartstein, President and CEO of Finjan Holdings. “B. Riley has become a trusted partner of Finjan. They have invested the time to understand the complexities of our business and we value their continued support.”

Click here to read the full press release.