30.05.2014 14:45:20
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Advanced Photonix To Issue 5.39 Mln Class A Shares At $0.53/shr - Qucik Facts
(RTTNews) - Advanced Photonix, Inc.(API) Friday said it will issue 5.39 million Class A common shares for $0.53 per share via an underwritten public offering.
In addition, the firm has granted the underwriter an option exercisable for a 30-day period to buy up to an additional 808,696 Class A common shares on the same terms and conditions.
The company intends to use the net proceeds of nearly $2.5 million for reducing its indebtedness and pay certain related fees.
B. Riley & Co., LLC will act as the sole underwriter for the offering.

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