Pervasive Software Inc announced today that it has priced a secondary public offering of 2.63 million shares of common stock, of which 1.5 million were sold by the company and 1.13 million shares were sold by existing stockholders. The Austin, Texas- based provider of embedded databases and application servers, is set to sell the shares at $17.25 a piece.
Pervasive also said it has granted the underwriters an option to purchase up to an additional 394,500 shares to cover over- allotments. If the extras are taken, the total offering would be worth $52.9m, with the company bagging $33.2m before expenses. The offering was lead managed by BancBoston Robertson Stephens and co-managed by Hambrecht & Quist, US Bancorp Piper Jaffray and First Albany.
