Business
Lantronix Announces Proposed Public Offering of Common Stock
IRVINE, Calif., Nov. 17, 2021 (GLOBE NEWSWIRE) -- Lantronix, Inc. (NASDAQ: LTRX) (“Lantronix”), a global provider of secure turnkey solutions for Intelligent
About this update from Lantronix, Inc.
[{"type":"text","content":"IRVINE, Calif., Nov. 17, 2021 (GLOBE NEWSWIRE) -- Lantronix, Inc. (NASDAQ: LTRX) (“Lantronix”), a global provider of secure turnkey solutions for Intelligent IT and the Internet of Things (IoT), today announced that it has commenced a proposed underwritten public offering to issue and sell shares of its common stock. 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. TL Investment GmbH also expects to grant the underwriters a 30-day option to purchase additional shares of Lantronix’s common stock in an amount of up to 15% of the number of shares sold in the offering, if any, on the same terms and conditions. Bernhard Bruscha, Lantronix’s founder and former Chairman of the Board, is managing director of TL Investment GmbH, and Dr. Heidi Nguyen, a current director of Lantronix and Mr. Bruscha’s spouse, is Vice President and a director of TL Investment GmbH. Lantronix intends to use its net proceeds from the offering for working capital and general corporate purposes, which may include, among other things, the repayment of existing indebtedness. Lantronix will not receive any of the proceeds from the shares of common stock sold by TL Investment GmbH in the proposed offering, if any. Canaccord Genuity and Craig-Hallum are acting as joint book-running managers for the offering. The offering is being conducted pursuant to two effective shelf registration statements (File Nos. 333-227127 and 333-259454), which were declared effective by the Securities and Exchange Commission (“SEC”) on September 12, 2018 and October 19, 2021, respectively. The proposed offering will be made only by means of a prospectus supplement and accompanying prospectuses describing the terms of the offering. Copies of the preliminary prospectus supplement and the accompanying prospectuses relating to this offering may be obtained by contacting the following: Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, Suite 1200, Boston, Massachusetts 02110, or by telephone at (617) 371-3900, or by email at [email protected], or Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, or by telephone at (612) 334-6300, or by email at prospect...