Deal conducted by Craig-Hallum Capital to fund acquisition of Provital
By Devika Patel
Knoxville, Tenn., July 23 – LiqTech International, Inc. said it priced a $10.44 million public offering of stock with a $1.57 million greenshoe. The deal was announced on July 16.
The company will sell 6,956,522 common shares at $1.50 per share. The price per share is a 7.98% discount to the July 22 closing share price of $1.63.
Craig-Hallum Capital Group LLC is the managing underwriter.
Settlement is expected on July 28.
Proceeds will be used for the company’s planned acquisition of Provital Solutions A/S, transaction expenses and other general corporate purposes.
Based in Ballerup, Denmark, LiqTech is a clean technology company that provides state-of-the-art technologies for gas and liquid purification by manufacturing ceramic silicon carbide filters.
| Issuer: | LiqTech International, Inc.
|
| Issue: | Common stock
|
| Amount: | $10,434,783
|
| Greenshoe: | $1,565,217
|
| Shares: | 6,956,522
|
| Price: | $1.50
|
| Warrants: | No
|
| Managing underwriter: | Craig-Hallum Capital Group LLC i
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| Announcement date: | July 16
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Stock symbol: | NYSE: LIQT
|
| Stock price: | $1.63 at close July 22
|
| Market capitalization: | $40.82 million
|
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