S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Telecom & Wireless

UniTek IPO: From OTCBB to NASDAQ (UNTK, UGLB)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
UniTek Global Services, Inc. (NASDAQ: UNTK) is the newest IPO and is coming public this morning.  The company priced 19 million shares of common stock at $4.75 per share.  Prior to this offering, UniTek has traded on the Over-the-Counter Bulletin Board under the symbol “UGLB.OB.”  UniTek offers engineering, construction management and installation fulfillment services to companies in telecommunications, broadband cable, wireless and satellite industries. It claims over 5,200 employees in more than 100 locations in the U.S. and Canada.

The net proceeds of the offering will be approximately $82.6 million. The use of funds is to repay approximately $61.9 million of debt, with the remaining funds to be used for general corporate purposes.

FBR Capital Markets and ROTH Capital Partners acted as joint book-runners in the offering; co-managers are listed as D.A. Davidson and Janney Montgomery Scott.  The underwritering group has a 30-day option to purchase up to an additional 2,850,000 shares to cover over-allotments.  All share amounts offered reflect a one-for-28 reverse split of the common stock completed in conjunction with the pricing of the offering.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Jon C. Ogg |

Forex IPO: GAIN Capital Holdings (GCAP)

GAIN Capital Holdings Inc. (NYSE: GCAP) is coming public this morning via an initial public offering.  The company priced 9…

Jon C. Ogg |

Waves and Waves of Secondary Pricings (CVGI, CPA, G, HIG, HRP, NLST, SB, TSL)

This week week may have been a record for any recent period on how many secondary offerings came to market…

Douglas A. McIntyre |

Secondary Offerings Still Coming Strong (MAIN, OEH, EPB, ENMD, TK, NDAQ, NLST, ARIA)

The end of 2009 was marked by many companies selling stock via public secondary offerings.  2010 has not seen the…

Douglas A. McIntyre |

Secondary Offerings Keep Mounting (ED, KMP, VNR, AGO, USEG)

There is still a flood of secondary offerings coming down the pipe.  We have secondaries from Consolidated Edison Inc. (NYSE:…

Jon C. Ogg |

Public Offering Floodgates Open Wide (CUZ, DHX, DFS, EPR, FNSR, FPO, GEL, G, GLP, HIG, IRDM, LXRX, NVAX, ORG, SATC, TTMI)

If you think you are alone in noticing that the markets have held up extremely well, you better take a…

Douglas A. McIntyre |

Secondary Offerings Keep Mounting (CAST, RGNC, SD, TRMK, HGSI)

This morning we have another flurry of secondary offerings that are hitting the market.  Today’s tally comes to what looks…

Jon C. Ogg |

Bracing for a Higher Kinder Morgan IPO (KMI, KMP, KMR, GS)

Kinder Morgan Inc. (NYSE: KMI) is supposed to price tonight.  While many already expected the IPO to be hot, the…

Jon C. Ogg |

Swift Set for IPO, A Re-Public Offering (SWFT)

Swift Transportation Co. (NASDAQ: SWFT) is set come public this week, and that should read “come public again.”  The trucking…

Douglas A. McIntyre |

IPO Alert: LogMeIn (LOGM, INTC)

LogMeIn, Inc. is coming public in an IPO and the terms are being set.   The registration has been set for…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820