Business
Clearfield Announces Proposed $100 Million Public Offering of Common Stock
MINNEAPOLIS, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Clearfield, Inc. (NASDAQ: CLFD) today announced that it intends to sell $100 million of its common stock, $0.01
About this update from Clearfield, Inc.
[{"type":"text","content":"MINNEAPOLIS, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Clearfield, Inc. (NASDAQ: CLFD) today announced that it intends to sell $100 million of its common stock, $0.01 par value, in an underwritten public offering. Clearfield also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its common stock in the underwritten public offering. The net proceeds from the offering will be used for working capital and general corporate purposes. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, including the offering price of the common stock. Cowen and Needham & Company are acting as joint book-running 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. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from: Cowen and Company, LLC, Attn: 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, Attention: 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, and distributes fiber optic management, protection, and delivery products for communications networks. Our “fiber to the anywhere” platform serves the unique requireme...