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CPI Aero Announces Closing of Public Offering of Common StockEDGEWOOD, N.Y., Oct. 19, 2018 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today announced the closing of its underwritten public offering of 2,760,000 shares of its common stock, including 360,000 shares pursuant to the underwriters’ full exercise of their over-allotment option, at a public offering price of $6.25 per share. CPI Aero’s net proceeds from the offering, after deducting underwriting discounts, commissions, and other offering expenses, were approximately $16.10 million. CPI Aero anticipates using the net proceeds for general corporate purposes, which may include working capital, capital expenditures, debt repayment, or strategic acquisitions. Canaccord Genuity LLC acted as the sole bookrunning manager of the offering. B. Riley FBR, Inc. acted as the co-manager of the offering. The shares were offered and sold pursuant to a shelf registration statement (File No. 333-220090) declared effective by the Securities and Exchange Commission on October 2, 2017, and the final prospectus filed on October 17, 2018 in connection therewith. Copies of the prospectus supplement and accompanying base prospectus relating to the ofering may be obtained from the Securities and Exchange Commission at http://www.sec.gov, or from Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, MA 02110, Attn: Syndicate Department, by telephone at (617) 371-3900 or by e-mail at [email protected]. About CPI Aero Safe Harbor Statement CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO. Contact: Vincent Palazzolo Investor Relations Counsel: |