Clearfield Announces Pricing of Upsized $120 Million Public Offering of Common Stock

About this update from Clearfield, Inc.

[{"type":"text","content":"MINNEAPOLIS, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Clearfield, Inc. (NASDAQ: CLFD) today announced the pricing and upsize of the previously announced underwritten public offering of 1,200,000 shares of its common stock at a price to the public of $100.00 per share for expected gross proceeds of approximately $120 million before deducting estimated offering expenses and the underwriting commissions and discounts. In connection with the offering, the underwriters have been granted a 30-day option to purchase up to an additional 180,000 shares of its common stock in the underwritten public offering. The offering is expected to close on December 9, 2022, subject to the satisfaction of customary closing conditions. The net proceeds from the offering will be used for working capital and general corporate purposes. Cowen and Needham & Company are acting as joint book-running managers for the offering. Roth Capital Partners, Lake Street and Northland are acting as co-managers for the offering. The shares are being offered pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”) that became effective on April 28, 2022. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the website of the SEC at www.sec.gov. The final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and, when available, may be obtained by contacting: Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at [email protected]; and Needham & Company, LLC, Attn: Syndicate Prospectus Department, 250 Park Avenue, 10th Floor, New York, New York 10177, or by calling 800-903-3268, or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Clearfield, Inc. Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures...

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