Lakeland Fire + Safety Announces Proposed Public Offering of Common Stock
Lakeland Industries (NASDAQ:LAKE), a global manufacturer of protective clothing, has announced a proposed underwritten public offering of common stock. The company plans to grant underwriters a 45-day option to purchase up to an additional 15% of shares on the same terms. Roth Capital Partners will serve as the sole book-running manager for the offering.
The net proceeds will be used for repayment of certain indebtedness, operations, business growth, working capital, and general corporate purposes. The offering is subject to market conditions, with no guarantees regarding completion, size, or terms. The offering will be conducted under a previously filed shelf registration statement that became effective on July 23, 2024.
Lakeland Industries (NASDAQ:LAKE), un produttore globale di abbigliamento protettivo, ha annunciato una proposta di offerta pubblica composta da azioni ordinarie con sottoscrizione garantita. L'azienda prevede di concedere ai sottoscrittori un'opzione di acquisto di un ulteriore 15% di azioni alle stesse condizioni, valida per 45 giorni. Roth Capital Partners sarà l'unico manager della book-running per l'offerta.
I proventi netti saranno utilizzati per il rimborso di determinati debiti, operazioni, crescita aziendale, capitale circolante e scopi aziendali generali. L'offerta è soggetta alle condizioni di mercato, senza garanzie riguardo alla conclusione, dimensione o termini. L'offerta sarà condotta sotto un precedente documento di registrazione shelf che è diventato efficace il 23 luglio 2024.
Lakeland Industries (NASDAQ:LAKE), un fabricante global de ropa de protección, ha anunciado una oferta pública propuesta de acciones ordinarias con suscripción garantizada. La compañía planea otorgar a los suscriptores una opción de compra de hasta un 15% adicional de acciones en las mismas condiciones por un período de 45 días. Roth Capital Partners actuará como el único administrador de la oferta.
Los ingresos netos se utilizarán para el reembolso de ciertas deudas, operaciones, crecimiento empresarial, capital de trabajo y propósitos corporativos generales. La oferta está sujeta a las condiciones del mercado, sin garantías sobre su finalización, tamaño o términos. La oferta se realizará bajo un estado de registro de
레이켈랜드 인더스트리스 (NASDAQ:LAKE)는 글로벌 개인 보호복 제조업체로서, 일반 주식의 보장된 공모 제안을 발표했습니다. 이 회사는 인수자에게 동일한 조건으로 추가 15%의 주식을 구매할 수 있는 45일 옵션을 부여할 계획입니다. 로스 캐피탈 파트너스는 이번 공모의 유일한 북러닝 매니저로 활동합니다.
순수익은 특정 채무 상환, 운영, 사업 성장, 운전자본 및 일반 기업 목적에 사용될 예정입니다. 공모는 시장 상황에 따라 달라지며, 완료, 규모 또는 조건에 대해 보장되지 않습니다. 이 공모는 2024년 7월 23일에 유효해진 이전의 선반 등록 서류에 따라 진행됩니다.
Lakeland Industries (NASDAQ:LAKE), un fabricant mondial de vêtements de protection, a annoncé une offre publique proposée d'actions ordinaires souscrite. L'entreprise prévoit de donner aux souscripteurs une option de 45 jours pour acheter jusqu'à 15% d'actions supplémentaires dans les mêmes conditions. Roth Capital Partners sera le seul gestionnaire de livres pour cette offre.
Le produit net sera utilisé pour le remboursement de certaines dettes, opérations, croissance des affaires, fonds de roulement et objectifs corporatifs généraux. L'offre est soumise aux conditions du marché, sans garanties concernant l'achèvement, la taille ou les termes. L'offre sera réalisée sous un état d'enregistrement de shelf précédemment déposé, devenu effectif le 23 juillet 2024.
Lakeland Industries (NASDAQ:LAKE), ein globaler Hersteller von Schutzkleidung, hat eine vorgeschlagene unterzeichnete öffentliche Angebotsaktion ordentlicher Aktien bekannt gegeben. Das Unternehmen plant, den Underwritern eine 45-tägige Option zum Kauf von bis zu 15% zusätzlicher Aktien zu denselben Bedingungen einzuräumen. Roth Capital Partners wird als alleiniger Buchführungsleiter für das Angebot fungieren.
Der Nettoprofit wird verwendet für die Rückzahlung bestimmter Verbindlichkeiten, Betrieb, Unternehmenswachstum, Betriebskapital und allgemeine Unternehmenszwecke. Das Angebot unterliegt den Marktbedingungen, ohne Garantien hinsichtlich Abschluss, Größe oder Bedingungen. Das Angebot wird unter einer zuvor eingereichten Shelf-Registrierungserklärung durchgeführt, die am 23. Juli 2024 wirksam wurde.
- Potential to reduce debt through proceeds
- Additional working capital for business growth and operations
- Shelf registration already in place, streamlining the offering process
- Potential dilution of existing shareholders' value
- Uncertainty regarding offering completion and final terms
- Additional shares could put downward pressure on stock price
Insights
Lakeland Industries' announcement of a public stock offering represents a significant capital raising initiative that warrants careful analysis. With a current market cap of
The dual-purpose use of proceeds - debt reduction and business growth - suggests a strategic balancing act. The focus on debt repayment indicates potential balance sheet optimization, while the allocation for working capital and growth initiatives points to anticipated business expansion. However, the offering's timing amid current market conditions and the company's relatively modest market cap raises important considerations about potential dilution effects on existing shareholders.
The use of a shelf registration (Form S-3) filed in July 2024 provides the company with flexible access to capital markets, but the decision to proceed now might indicate either pressing capital needs or perceived favorable market conditions. The additional
Notably, the lack of specified offering size and pricing details in the announcement suggests careful positioning to gauge market reception. The choice of Roth Capital Partners as the sole book-runner, known for their focus on small-cap growth companies, aligns with Lakeland's market position and could influence institutional interest in the offering.
For investors, this offering presents a complex scenario where the potential benefits of strengthened balance sheet and growth capital must be weighed against dilution concerns. The success and pricing of this offering could serve as a key indicator of market confidence in Lakeland's growth strategy and management's ability to effectively deploy new capital.
HUNTSVILLE, AL / ACCESS Newswire / January 22, 2025 / Lakeland Industries, Inc. ("Lakeland Fire + Safety" or "Lakeland") (NASDAQ:LAKE), a leading global manufacturer of protective clothing for industry, healthcare, and first responders, today announced a proposed underwritten public offering of shares of its common stock. Lakeland also expects to grant to the underwriters of the offering a 45-day option to purchase up to an additional
Lakeland intends to use the net proceeds from the proposed offering for the repayment of certain indebtedness, and for operations and the growth of its business, including working capital and other general corporate purposes.
The offering is subject to market and other conditions, and there can be no assurance as to whether or when such offering may be completed, or as to the actual size or terms of such offering.
Roth Capital Partners is acting as sole book-running manager.
A shelf registration statement on Form S-3 (File No. 333-280783) relating to the shares was previously filed with the Securities and Exchange Commission (the "SEC") and became effective on July 23, 2024. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectus, when available, may be obtained by contacting: Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, by telephone at (800) 678-9147 or by email at rothecm@roth.com.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the shares of common stock, nor will there be any sale of the shares of common stock in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
About Lakeland Fire + Safety
Lakeland Fire + Safety manufactures and sells a comprehensive line of fire services and industrial protective clothing and accessories for the industrial and first responder markets. Our products are sold globally by our in-house sales teams, our customer service group, and authorized independent sales representatives to a network of over 2,000 global safety and industrial supply distributors. Our authorized distributors supply end users, such as integrated oil, chemical/petrochemical, automobile, transportation, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high technology electronics manufacturers, as well as scientific, medical laboratories and the utilities industry. In addition, we supply federal, state and local governmental agencies and departments, such as fire and law enforcement, airport crash rescue units, the Department of Defense, the Department of Homeland Security and the Centers for Disease Control. Internationally, we sell to a mixture of end users directly and to industrial distributors, depending on the particular country and market. In addition to the United States, sales are made into more than 50 foreign countries, the majority of which were into China, the European Economic Community ("EEC"), Canada, Chile, Argentina, Russia, Kazakhstan, Colombia, Mexico, Ecuador, India, Uruguay, Middle East, Southeast Asia, Australia, Hong Kong and New Zealand.
Forward-Looking Statements
This press release contains "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, which address Lakeland's expectations of sources or uses for capital or which express the Company's expectation for the future with respect to financial performance or operating strategies, including statements regarding the proposed public offering and the use of proceeds therefrom, can be identified as forward-looking statements. Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in Press Releases and Forms 8-K, registration statements, quarterly and annual reports and other reports and filings filed with the Securities and Exchange Commission or made by management. As a result, there can be no assurance that Lakeland's future results will not be materially different from those described herein as "believed," "projected," "planned," "intended," "anticipated," "can," "estimated" or "expected," or other words which reflect the current view of the Company with respect to future events. We caution readers that these forward-looking statements speak only as of the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based, except as may be required by law.
Contacts
Lakeland Fire + Safety
256-600-1390
Roger Shannon
rdshannon@lakeland.com
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
LAKE@mzgroup.us
www.mzgroup.us
SOURCE: Lakeland Industries, Inc.
View the original press release on ACCESS Newswire
FAQ
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When did LAKE's shelf registration statement become effective?
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