Business
Lakeland Fire + Safety Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriter’s Option to Purchase Additional Shares
HUNTSVILLE, AL / ACCESS Newswire / January 24, 2025 / Lakeland Industries, Inc. ("Lakeland Fire + Safety" or "Lakeland") (NASDAQ:LAKE), a leading global
About this update from Lakeland Industries, Inc.
[{"type":"text","content":"HUNTSVILLE, AL / ACCESS Newswire / January 24, 2025 / Lakeland Industries, Inc. (\"Lakeland Fire + Safety\" or \"Lakeland\") (NASDAQ:LAKE), a leading global manufacturer of protective clothing for industry, healthcare, and first responders, today announced the closing of its previously announced underwritten public offering of an aggregate of 2,093,000 shares of its common stock at a price to the public of $22.00 per share, which includes the exercise in full by the underwriter of its option to purchase 273,000 additional shares of Lakeland's common stock. Gross proceeds to Lakeland, before deducting the underwriting discount and estimated offering expenses payable by Lakeland, were approximately $46.0 million. The offering included participation from new and existing institutional investors, company management and board of directors.Roth Capital Partners acted as sole book-running manager, and Lake Street Capital Markets, LLC and Maxim Group LLC acted as co-managers for the offering. D.A. Davidson & Co. served as financial advisor to Lakeland.Lakeland intends to use the net proceeds from the offering for the repayment of certain indebtedness, and for operations and the growth of its business, including working capital and other general corporate purposes.A shelf registration statement on Form S-3 (File No. 333-280783) relating to the shares was previously filed with the Securities and Exchange Commission (the \"SEC\") and became effective on July 23, 2024. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus may be obtained by contacting: Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, by telephone at (800) 678-9147 or by email at [email protected]; Lake Street Capital Markets, LLC, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, by telephone at (612) 326-1305, or by email at [email protected]; or Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the shares of common stock, nor will there be any sale of the shares of common stock in any state or other jurisdiction in ...