TMCnet News
CUI Global, Inc. Announces Pricing Of Its Upsized Public Offering Of Common StockTUALATIN, Oregon, Oct. 19, 2017 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) ("CUI Global" or the "Company"), today announced the pricing of its previously announced underwritten public offering of 6,428,571 shares of its common stock at a price to the public of $2.80 per share. In addition, the Company granted the underwriter a 45-day option to purchase at the public offering price up to an additional 964,285 shares of common stock to cover over-allotments, if any. All shares of common stock to be sold in the offering will be offered by CUI Global. The offering is expected to close on October 23, 2017, subject to the satisfaction of customary closing conditions. The total gross proceeds from the offering are expected to be approximately $18.0 million, assuming no exercise of the underwriter's over-allotment option. The Company intends to use the net proceeds from the offering (after deducting the underwriting discount and other estimated expenses payable by the Company) primarily for general corporate purposes, which may include operating expenses, working capital to improve and promote our commercially available products, advance product candidates, future acquisitions or share repurchases, expand international presence and commercialization, general capital expenditures and satisfaction of debt obligations. Craig-Hallum Capital Group is acting as the sole managing underwriter for the offering. A shelf registration statement on Form S-3 (File No. 333-216672) relating to the shares of common stock being offered has been declared effective by the Securities and Exchange Commission ("SEC"). This offering may only be made by means of a prospectus supplement and the accompanying prospectus. The preliminary prospectus supplement related to the offering was filed with the SEC on October 16, 2017. The final prospectus supplement and accompanying base prospectus will be filed with the SEC and, when available, may be obtained from the SEC's website at http://www.sec.gov or from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, by telephone at (612) 334-6300 or email at [email protected]. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, 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. About CUI Global, Inc. For more information please visit www.cuiglobal.com Important Cautions Regarding Forward Looking Statements
Logo - https://mma.prnewswire.com/media/586540/CUI_GLOBAL__INC__LOGO.jpg |