IntriCon Announces Completion of Public Offering of Common Stock and Exercise in Full of Underwriters' Option to Purchase Additional Shares
IntriCon Corporation (IIN)
Last intricon corporation earnings: 2/24 04:39 pm
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US:NASDAQ Investor Relations:
investorrelations.intricon.com/investor-relations
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Source: Business Wire
ARDEN HILLS, Minn.--(BUSINESS WIRE)-- IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of body-worn devices, today announced the completion of its previously announced underwritten public offering of 1,725,000 shares of its common stock, including 225,000 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares. All shares in the offering were sold by IntriCon at a price to the public of $55.00 per share. Net proceeds from the offering, including pursuant to the option exercise, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $88.9 million. IntriCon intends to use these net proceeds to repay debt, to fund capital expenditures, to repurchase and retire 500,000 shares of its common stock from certain of its directors and officers at a price equal to t
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