Business
Vicor Corporation Announces Full Exercise and Closing of Underwriters’ Over-Allotment Option
ANDOVER, Mass., June 17, 2020 (GLOBE NEWSWIRE) -- Vicor Corporation (NASDAQ: VICR), a leading provider of high performance power components and systems,
About this update from Vicor Corporation
[{"type":"text","content":"ANDOVER, Mass., June 17, 2020 (GLOBE NEWSWIRE) -- Vicor Corporation (NASDAQ: VICR), a leading provider of high performance power components and systems, announced today that, in connection with the June 15, 2020 settlement of its public offering of $100 million of shares of its common stock at a price to the public of $65.00 per share, the underwriters have exercised in full their 30-day option to purchase up to $15 million of additional shares of common stock from Vicor at the $65.00 per share offering price less the underwriting discounts. After deducting underwriting discounts and commissions and estimated offering expenses payable by Vicor, the cumulative net proceeds to Vicor from the offering (inclusive of the option exercise) is approximately $109.8 million.\n Needham & Company acted as the sole book-running manager for the offering. Craig-Hallum Capital Group acted as the co-manager for the offering. Vicor intends to use the net proceeds from the offering for the expansion of its manufacturing facilities and other general corporate purposes. The offering was made pursuant to an automatic shelf registration statement on Form S-3, including a base prospectus, filed on June 9, 2020 by Vicor with the Securities and Exchange Commission (SEC), which registration statement was effective upon filing. The offering was made only by means of a prospectus supplement and accompanying prospectus. Copies of the final prospectus supplement and the accompanying prospectus may be obtained from: Needham & Company, 250 Park Avenue, 10th Floor, New York, New York 10177 or by telephone at 800-903-3268; or Craig-Hallum Capital Group, 222 South 9th Street, Suite 350, Minneapolis, Minnesota 55402 or by telephone at 612-334-6300. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement in this press release that is not a statement of historical fact is a fo...