Deal conducted by Craig-Hallum Capital to fund acquisition of Provital
By Devika Patel
Knoxville, Tenn., July 28 – LiqTech International, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $1.57 million greenshoe in full for total proceeds of $12 million. The deal was announced July 16 and priced for $10.44 million with the greenshoe on July 23.
The company sold 8 million 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. Of the shares, 1,043,478 were part of the fully exercised greenshoe.
Craig-Hallum Capital Group LLC was the sole managing underwriter.
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: | $12 million (including $1,565,217 greenshoe)
|
| Shares: | 8 million
|
| Price: | $1.50
|
| Warrants: | No
|
| Managing underwriter: | Craig-Hallum Capital Group LLC
|
| Announcement date: | July 16
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| 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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