Precision Optics Announces Pricing of $5.1 Million Offering of Common Stock to Fund Business Expansion
Precision Optics (NASDAQ: POCI) has announced a registered direct offering of 1,272,500 shares of common stock at $4.00 per share, expected to generate gross proceeds of approximately $5.1 million and net proceeds of about $5.0 million after expenses.
The offering, led by existing stockholders, is scheduled to close around February 21, 2025. The company plans to use the proceeds to repay certain debts, expand facilities to support growth, and for general working capital purposes. The offering is being conducted through an effective shelf registration statement on Form S-3 previously filed with the SEC.
Precision Optics (NASDAQ: POCI) ha annunciato un'offerta diretta registrata di 1.272.500 azioni ordinarie a 4,00 $ per azione, che si prevede genererà proventi lordi di circa 5,1 milioni di dollari e proventi netti di circa 5,0 milioni di dollari dopo le spese.
L'offerta, guidata dagli azionisti esistenti, è prevista per chiudersi intorno al 21 febbraio 2025. L'azienda prevede di utilizzare i proventi per ripagare alcuni debiti, espandere le strutture per supportare la crescita e per scopi generali di capitale circolante. L'offerta è condotta attraverso una dichiarazione di registrazione a scaffale efficace sul modulo S-3 precedentemente depositata presso la SEC.
Precision Optics (NASDAQ: POCI) ha anunciado una oferta directa registrada de 1.272.500 acciones ordinarias a 4,00 $ por acción, que se espera genere ingresos brutos de aproximadamente 5,1 millones de dólares y ingresos netos de alrededor de 5,0 millones de dólares después de gastos.
La oferta, liderada por accionistas existentes, está programada para cerrarse alrededor del 21 de febrero de 2025. La empresa planea utilizar los ingresos para pagar ciertas deudas, expandir instalaciones para apoyar el crecimiento y para fines generales de capital de trabajo. La oferta se realiza a través de una declaración de registro de estante efectiva en el formulario S-3 previamente presentada ante la SEC.
Precision Optics (NASDAQ: POCI)는 주당 4.00 달러에 1,272,500주 보통주를 등록된 직접 공모로 발표했으며, 약 510만 달러의 총 수익과 비용 후 약 500만 달러의 순수익을 창출할 것으로 예상됩니다.
기존 주주가 주도하는 이번 공모는 2025년 2월 21일경에 마감될 예정입니다. 회사는 수익을 사용하여 특정 부채를 상환하고, 성장을 지원하기 위해 시설을 확장하며, 일반 운영 자본 목적으로 사용할 계획입니다. 이번 공모는 SEC에 이전에 제출된 S-3 양식의 유효한 선반 등록 성명을 통해 진행됩니다.
Precision Optics (NASDAQ: POCI) a annoncé une offre directe enregistrée de 1.272.500 actions ordinaires au prix de 4,00 $ par action, qui devrait générer des recettes brutes d'environ 5,1 millions de dollars et des recettes nettes d'environ 5,0 millions de dollars après les dépenses.
L'offre, dirigée par des actionnaires existants, devrait se clôturer aux alentours du 21 février 2025. L'entreprise prévoit d'utiliser les recettes pour rembourser certaines dettes, élargir ses installations pour soutenir la croissance et pour des besoins généraux en fonds de roulement. L'offre est réalisée par le biais d'une déclaration d'enregistrement de shelf efficace sur le formulaire S-3 précédemment déposé auprès de la SEC.
Precision Optics (NASDAQ: POCI) hat eine registrierte Direktplatzierung von 1.272.500 Stammaktien zu je 4,00 $ angekündigt, die voraussichtlich einen Bruttoerlös von etwa 5,1 Millionen Dollar und einen Nettoerlös von etwa 5,0 Millionen Dollar nach Abzug der Kosten generieren wird.
Die Platzierung, die von bestehenden Aktionären geleitet wird, soll voraussichtlich um den 21. Februar 2025 abgeschlossen werden. Das Unternehmen plant, die Erlöse zur Rückzahlung bestimmter Schulden, zur Erweiterung der Anlagen zur Unterstützung des Wachstums und für allgemeine Betriebsmittel zu verwenden. Die Platzierung erfolgt durch eine wirksame Shelf-Registrierungserklärung auf dem Formular S-3, die zuvor bei der SEC eingereicht wurde.
- Secured $5.1 million in gross proceeds through stock offering
- Strong support from existing stockholders leading the offering
- Funds allocated for debt repayment and facility expansion
- Potential dilution for existing shareholders through issuance of 1,272,500 new shares
- Stock offered at $4.00 per share
Insights
This
The planned allocation of proceeds reveals a dual-focused strategy:
- Debt reduction to strengthen the balance sheet and improve financial flexibility
- Facility expansion to address capacity constraints and support growth initiatives in the medical and defense/aerospace sectors
The timing of this offering, leveraging the recently effective shelf registration from June 2024, indicates careful planning and execution. While the
The debt repayment component should improve the company's financial profile and potentially reduce interest expenses, while the facility expansion positions POCI to capture additional market share in its high-precision optical instruments segments. The allocation toward working capital provides necessary operational flexibility during the expansion phase, critical for maintaining production efficiency and managing inventory levels in a specialized manufacturing environment.
GARDNER, Mass., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, today announced that it has entered into securities purchase agreements with institutional and accredited investors for the purchase and sale of 1,272,500 shares of the Company's common stock, par value
The closing of the offering, which was led by existing stockholders, is expected to occur on or about February 21, 2025, subject to the satisfaction of customary closing conditions.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-280047) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on June 14, 2024. A prospectus supplement describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Precision Optics Corporation
Founded in 1982, Precision Optics is a vertically integrated optics company primarily focused on leveraging its proprietary micro-optics, 3D imaging and digital imaging technologies to the healthcare and defense/aerospace industries by providing services ranging from new product concept through mass manufacture. Utilizing its leading-edge in-house design, prototype, regulatory and fabrication capabilities as well as its Ross Optical division's high volume world-wide sourcing, inspecting and production resources, the Company is able to design and manufacture next-generation product solutions to the most challenging customer requirements. Within healthcare, Precision Optics enables next generation medical device companies around the world to meet the increasing demands of the surgical community who require more enhanced and smaller imaging systems for minimally invasive surgery as well as 3D endoscopy systems to support the rapid proliferation of surgical robotic systems. In addition to these next generation applications, Precision Optics has supplied top tier medical device companies a wide variety of optical products for decades, including complex endocouplers and specialized endoscopes. The Company is also leveraging its technical proficiency in micro-optics to enable leading edge defense/aerospace applications which require the highest quality standards and the optimization of size, weight and power. For more information, please visit www.poci.com.
About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, statements regarding the closing of this offering. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of the Company in light of their respective experience and perception of historical trends, current conditions, and expected future developments and their potential effects on the Company as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting the Company will be those anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including risks that the closing conditions for this offering will not be achieved, the demand for the Company's products, global supply chains and economic activity in general and other risks and uncertainties identified in the Company's filings with the SEC. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
Company Contact:
PRECISION OPTICS CORPORATION
22 East Broadway
Gardner, Massachusetts 01440-3338
Telephone: 978-630-1800
Investor Contact:
LYTHAM PARTNERS, LLC
Robert Blum
Telephone: 602-889-9700
poci@lythampartners.com
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