Insider reported in June that Link Media‘s parent company Boston Omaha was planning to raise $71.5 million via an IPO.

A press release on Business Wire announced that Cowen and Company, LLC, as the representative of the underwriters of the previously announced public offering of 6,538,462 shares of Class A common stock, exercised their option to purchase an additional 926,880 shares to cover over-allotments, bringing the total gross proceeds from the offering to $97,049,446, before deducting the underwriting discount and offering expenses payable by Boston Omaha.

Boston Omaha currently operates in three business sectors:

• Link Media owns and operates 535 billboards containing a total of 913 faces, of which 36 are digital displays, in four states;
• the General Indemnity Group subsidiary owns and operates both a surety insurance company which has recently expanded its authority to sell surety insurance in 37 states and the District of Columbia and two nationwide online and full service surety insurance brokerage businesses; and
• Boston Omaha owns a minority interest in Logic Commercial Real Estate, a full-service brokerage, property management and real estate services company located in Las Vegas, Nevada.

Proceeds can be be used in all three business sectors, but Insider expects to see more acquisitions from Link. Link’s current markets include signs in Wisconsin, Alabama, Georgia and Florida.  This recent news should bring an additional $20 million in cash to the parent company, BostonOmaha, for future growth.

[wpforms id=”9787″]

Paid Advertisement