Business
Lakeland Fire + Safety Announces Pricing of Public Offering of $40.0 Million of Common Stock
HUNTSVILLE, AL / ACCESS Newswire / January 23, 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 23, 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 that it has priced its underwritten public offering of 1,820,000 shares of its common stock at a public offering price of $22.00 per share. Lakeland expects the gross proceeds from the offering to be approximately $40.0 million, before deducting the underwriting discount and other estimated offering expenses payable by Lakeland.Roth Capital Partners is acting as sole book-running manager, and Lake Street Capital Markets, LLC and Maxim Group LLC are acting as co-managers for the offering.Lakeland intends to use the net proceeds from the proposed offering for the repayment of certain indebtedness, and for operations and the growth of its business, including working capital and other general corporate purposes.Lakeland has granted the underwriters in the offering a 45-day option to purchase up to 273,000 additional shares of common stock solely to cover over-allotments. Lakeland expects to close the offering, subject to market and other conditions, on or about January 24, 2025.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. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary 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, when available, 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 ...