UK-based systems integrator 4Front Technologies Inc says it’s filed with the Securities and Exchange Commission a Registration for a public offering of 4 million shares of common stock, 3.4 million of which are being offered by the company and the rest by certain selling shareholders. The proposed maximum offering price will be $12.81 per share, raising $58.9m. The filing also allows for an additional 600,000 shares to cover over-allotments for underwriters Hambrecht & Quist, FAC/Equities, Wheat First Union and Kaufman Brothers, LP. Roughly 20% of the shares are expected to be sold outside the US and Canada. 4Front says it will use the net proceeds of the offering to repay debt, for working capital and for general corporate purposes.
