Leaf Group (LEAF) Prices 7.145M Share Common Offering at $4.20/Sh

Leaf Group Ltd. (NYSE: LEAF) today announced the pricing of an underwritten registered public offering of 7,145,000 shares of its common stock at a price to the public of $4.20 per share. In addition, Leaf Group granted the underwriters a 30-day option to purchase up to an additional 1,071,750 shares of its common stock. All shares of common stock sold in the offering are being sold by Leaf Group. Leaf Group expects to close the offering on December 14, 2020, subject to the satisfaction of customary closing conditions.

Leaf Group anticipates that the aggregate net proceeds from the offering will be approximately $27.8 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Leaf Group, but excluding any exercise of the underwriters’ option to purchase additional shares of common stock. Leaf Group intends to use the net proceeds from the offering for working capital and general corporate purposes. Leaf Group may also use a portion of the net proceeds to acquire complementary businesses, products and technologies, although Leaf Group has no agreements, commitments or understandings to do so at this time.

Canaccord Genuity LLC is acting as sole book-running manager for the offering. BTIG, LLC is acting as co-manager for the offering.

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