Transaction Announcement: Virtusa

January 2014 – Virtusa Corporation (NasdaqGS:VRTU) announced the pricing of an underwritten public follow-on offering of 2,300,000 primary shares at $34.50 per share. In addition, Virtusa granted the underwriters of the offering a 30-day option to purchase up to 345,000 shares, which was exercised in full. Including the over-allotment, 2,645,000 shares were sold for total gross proceeds of $91.3 million. Net proceeds from the offering are expected to be used to repay the outstanding borrowings drawn down under Virtusa’s $25.0 million revolving credit facility to fund its January 2, 2014 acquisition of Trade Tech Consulting Scandinavia AB and its subsidiaries. The remaining net proceeds are expected to be used for general corporate purposes.

Janney Montgomery Scott LLC served as a co-manager on this transaction.

Janney Montgomery Scott LLC
1717 Arch Street
Philadelphia, PA 19103
www.janney.com


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