CPS Technologies Corp. (CPSH), a developing advanced materials solutions company, on Tuesday announced it priced its underwritten public offering of 3,000,000 shares of stock at $3.00 per share, for gross proceeds of about $9 million.
The offering is expected to close on or about October 8.
The company granted the underwriter a 45-day option to purchase up to an additional 450,000 shares at the same price, less underwriting discounts and commissions.
The company planned to use the net proceeds for general corporate purposes, including working capital, capital expenditures, debt repayment or refinancing, and other investments.
In the pre-market trading, CPS Technologies is 16.2234% lesser at $3.1500 on the Nasdaq.
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