Art Technology Group Inc. (ATG) (NASDAQ: ARTG) has announced that the underwriters from its public offering have exercised their option to purchase 3,750,000 shares of common stock to cover overallotments. The joint book running managers and underwriters for the offering are Deutsche Bank Securities Inc. and Morgan Stanley & Co. Inc.
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ATG has announced a public follow-on offering of 25,000,000 shares of its common stock for $3.50 per share. Taking into account the exercise of the option to purchase additional shares, the aggregate gross proceeds are expected to be around $100.6 million. The offering is expected to close on February 10, 2010.
ATG is a global specialist in e-commerce. ATG Commerce is a commerce platform and business user application solution designed to power personalized, efficient and effective e-commerce sites. ATG's platform-neutral optimization services can be added to any Web site to increase conversions and reduce abandonment.
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