- Communications equipment company BK Technologies Corp BKTI priced 3.7 million shares at $3 per share to raise $11.1 million gross proceeds in a secondary public offering.
- The offer price signifies a 9.1% discount to the June 4 closing price of $3.3.
- The underwriters have 45 days to purchase additional shares up to 0.55 million.
- The offering proceeds will be primarily utilized for general corporate purposes, strategic investments, and potential acquisitions in complementary businesses.
- BK held $6.4 million in cash and equivalents as of Mar. 31, 2021.
- Price action: BKTI shares are down 6.06% at $3.10 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
