Optex aims to price public sale of 2,631,578 units at $1.90 per unit

Joseph Gunnar is the bookrunner; deal funds operating expenses, sales

By Devika Patel

Knoxville, Tenn., Aug. 16 – Optex Systems Holdings, Inc. will sell 2,631,578 units in its $5 million public offering with a 45-day greenshoe option of 394,736 additional units, according to a Form S-1/A filed Tuesday with the Securities and Exchange Commission. The company has registered up to $13.25 million of stock for the deal, which was announced on July 22.

The units of one share and one warrant will be sold at an assumed offering price of $1.90 per unit. Each warrant will be exercisable at $2.375 for three years. The strike price is a 10.47% premium to the Aug. 15 closing share price (OTCBB: OPXS) of $2.15.

Joseph Gunnar & Co. is the bookrunner.

Proceeds will be used for working capital, operating expenses, sales, marketing, business development and acquisitions.

The Richardson, Texas, company manufactures optical sighting systems and assemblies primarily for Department of Defense applications.

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