CalAmp Announces Pricing of Common Stock Offering at $9.25 per Share

CalAmp

, a leading provider of wireless communications solutions for a broad array of applications to customers globally, today announced the pricing of an underwritten public offering of 4,500,000 shares of its common stock at $9.25 per share. The underwriters have a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 675,000 shares to cover over-allotments, if any. The offering is expected to close on February 20, 2013, subject to customary closing conditions. The Company expects to receive net proceeds of $39.0 million, after deducting underwriting discounts and estimated offering expenses, assuming no exercise of the underwriters' over-allotment option. CalAmp intends to use the net proceeds from the offering to fund a portion of the purchase price for its previously announced pending acquisition of the operations of Wireless Matrix Corporation. Canaccord Genuity Inc. and B. Riley & Co., LLC are acting as joint book-running managers for the offering. Craig-Hallum Capital Group LLC, Northland Securities, Inc. and First Analysis Securities Corporation are acting as co-managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and has become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale will be made only by means of the written prospectus supplement forming part of the effective registration statement for the offering. Copies of the prospectus supplement and accompanying prospectus may be obtained by sending a request to the offices of Canaccord Genuity, Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110 at (617) 371-3900 or B. Riley & Co., LLC, 11100 Santa Monica Blvd., Suite 800, Los Angeles, CA 90025 at (310) 966-1444. Alternatively, you may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.