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I.D. Systems Sets Price for Public Offering

The RFID and wireless-tracking solutions provider hopes to raise $55.7 million.I.D. Systems (Nasdaq: IDSY), a Hackensack-based provider of wireless tracking of high-value enterprise assets, priced its public offering of common stock at $21.75 per share today. The company plans to sell 2.75 million shares to raise some $55.7 million.

The underwriters of the offering were given an option to buy up to 412,500 additional shares to cover over-allotments. Morgan Keegan & Co. is the sole book-running manager for the deal. Jefferies & Co. and Cowen & Co. are the co-lead managers.

I.D. Systems shares were down $0.24 to $22.58 in morning trading.

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