Benzinga | Apr 8, 2021 08:56AM EDT

Identiv Stock Is Trading Higher On Raising $35M Via Secondary Equity Offering

* Identiv Inc (NASDAQ: INVE) priced 3.3 million shares at $10.65 per share to raise $35 million in gross proceeds in a secondary public offering.

* The offer price signifies a 0.3% discount to the Wednesday closing price of $10.68.

* The underwriters have a 30-day option to purchase additional shares up to 0.5 million.

* B. Riley Securities is the sole book-running manager for the offering.

* Identiv held $11.4 million in cash as of Dec. 31, 2020.

* INVE shares have gained 234% in the last year.

* Price action: INVE shares traded higher by 5.43% at $11.26 in the premarket session on the last check Thursday.