Business
LiqTech International, Inc. Announces Pricing Of Its Upsized Public Offering Of Common Stock
BALLERUP, Denmark, May 22, 2019 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT) ("LiqTech"), a clean technology company that manufactures and
About this update from Liqtech International, Inc.
[{"type":"text","content":"BALLERUP, Denmark, May 22, 2019 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT) (\"LiqTech\"), a clean technology company that manufactures and markets highly specialized filtration technologies, today announced the upsizing and pricing of its previously announced underwritten public offering of 1,931,035 shares of its common stock at a public offering price of $7.25 per share. As part of the offering, LiqTech granted the underwriters a 30-day option to purchase at the public offering price up to an additional 284,827 shares of its common stock to cover over-allotments, if any. All shares of common stock to be sold in the offering were offered by LiqTech. LiqTech expects to close the offering on or about May 24, 2019, subject to the satisfaction of customary closing conditions. \nThe total gross proceeds from the offering are expected to be approximately $14.0 million, assuming no exercise of the underwriters' over-allotment option. LiqTech intends to use the net proceeds from this offering (after deducting the underwriting discount and other estimated offering expenses payable by LiqTech) to fund the growth of the business, including adding manufacturing capacity through equipment purchases, funding continued research and development efforts, for general corporate purposes, and the potential insourcing of currently outsourced manufacturing.\nStephens Inc. is acting as lead left book-running manager and Lake Street Capital Markets, LLC is acting as joint book-running manager for the offering.\nThe offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-220496) that was previously filed with the Securities and Exchange Commission (the \"SEC\") on September 15, 2017, as amended on October 11, 2017, and that was declared effective on October 23, 2017. A preliminary prospectus supplement and accompanying prospectus related to and describing the terms of the offering were filed with the SEC on May 21, 2019 and may be obtained by visiting EDGAR on the SEC's website at www.sec.gov or by contacting Stephens Inc., Attention: Equity Syndicate Prospectus, 111 Center Street, Little Rock, Arkansas 72201 or by email at [email protected] or Lake Street Capital Markets, LLC, Attention: Syndicate Dept., 920 Second Avenue South, Suite 700, Minneapolis, MN 55402 or by email at syndicate@lakestre...