Fresh Tracks Therapeutics (TG:VCC)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Fresh Tracks Therapeutics Charts. Click Here for more Fresh Tracks Therapeutics Charts.](/p.php?pid=staticchart&s=TG%5EVCC&p=8&t=15)
Veri-Tek International, Corp. Announces Full Exercise of
Underwriters' Over-Allotment Option
WIXOM, Mich., March 2 /PRNewswire-FirstCall/ -- Veri-Tek International, Corp.
(Amex: VCC "Veri-Tek" or the "Company") announced today that the underwriter of
its initial public offering has exercised its over-allotment option to purchase
375,000 shares of Veri-Tek's common stock at the initial public offering price
of $6.00 per share and that the over-allotment purchase was closed today. All
of the over-allotment shares were sold by Veri-Tek.
After giving effect to the sale of the over-allotment option shares, total
proceeds from the initial public offering (net of underwriting discount and
estimated offering expenses) are estimated to be approximately $15.4 million.
Veri-Tek intends to use the net proceeds to repay approximately $7.0 million of
senior debt and for general corporate purposes, including working capital,
capital expenditures primarily to expand the Company's manufacturing and
testing capacity and sales and marketing.
Anderson & Strudwick is the sole manager in this offering.
The final prospectus relating to the offering may be obtained by contacting
Anderson & Strudwick, 707 East Main Street, Richmond, VA 23219,
(800)-767-2424.
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 in any such state or
jurisdiction. Any offer or sale will be made only by means of a written
prospectus forming part of the effective registration statement.
ABOUT VERI-TEK INTERNATIONAL
Founded in 1993, Veri-Tek designs, develops and builds specialty equipment for
the automotive and heavy equipment industries utilizing patented and patent
pending technology that identifies product defects and production problems
early in the customers' manufacturing process. The Company also provides
testing services for automotive driveline products and can manufacture certain
products for the automotive industry via proprietary manufacturing methods.
SAFE HARBOR STATEMENT
Certain statements made by Veri-Tek International, Corp. in this presentation
and other periodic oral and written statements, including filings with the
Securities and Exchange Commission, are "forward-looking" statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements, as well as statements which address operating
performance, events or developments that we believe or expect to occur in the
future, including those that discuss strategies, goals, outlook or other
non-historical matters, or which relate to future sales or earnings
expectations, cost savings, awarded sales, volume growth, earnings or a general
belief in our expectations of future operating results, are forward- looking
statements. The forward-looking statements are made on the basis of
management's assumptions and estimations. As a result, there can be no
guarantee or assurance that these assumptions and expectations will in fact
occur. The forward-looking statements are subject to risks and uncertainties
that may cause actual results to materially differ from those contained in the
statements. Some, but not all of the risks, include our ability to obtain
future sales; our ability to successfully integrate acquisitions; changes in
worldwide economic and political conditions, including adverse effects from
terrorism or related hostilities including increased costs, reduced production
or other factors; costs related to legal and administrative matters; our
ability to realize cost savings expected to offset price concessions;
inefficiencies related to production and product launches that are greater than
anticipated; changes in technology and technological risks; increased fuel
costs; work stoppages and strikes at our facilities and that of our customers;
the presence of downturns in customer markets where the Company's goods and
services are sold; financial and business downturns of our customers or
vendors; and other factors, uncertainties, challenges, and risks detailed in
Veri-Tek's public filings with the Securities and Exchange Commission. Veri-Tek
does not intend or undertake any obligation to update any forward- looking
statements.
DATASOURCE: Veri-Tek International, Corp.
CONTACT: David V. Harper of Veri-Tek International, Corp.,
+1-248-560-1000
Web site: http://www.veri-tek.com/