- 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.
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