IntriCon Announces Proposed Public Offering of 1,500,000 Shares of Common Stock
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 that it intends to offer and sell 1,500,000 shares of its common stock in an underwritten public offering. IntriCon also expects to grant to the underwriters for the offering a 30-day option to purchase an additional 225,000 shares of common stock. All of the shares to be sold in the offering are to be sold by IntriCon. IntriCon intends to use the net proceeds from the offering 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 the net proceeds per share that IntriCon will receive from the offering, before expenses, and for working capital and other general corporate purposes. The offering is subject to market conditions, and there can be no
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