SMTC Corporation Announces Rights Offering and Registered Direct Offering Totaling up to $14.6 Million
SMTC CORP (SMTX)
Last smtc corp earnings: 3/12 07:54 pm
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US:NASDAQ Investor Relations:
smtc.com/investor-relations/investor-events
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Source: GlobeNewswire
TORONTO, May 24, 2019 (GLOBE NEWSWIRE) -- SMTC Corporation (“SMTC” or the “Company”) (Nasdaq:SMTX), a global electronics manufacturing services provider, today announced that it intends to raise up to $14.6 million of aggregate gross proceeds via (i) a rights offering (the "Rights Offering") to existing stockholders and the holders of the Company’s outstanding warrants (together, the “Holders”) as of the close of business on May 24, 2019 (the “Record Date”), to purchase up to approximately $9.1 million of shares of the Company’s common stock and (ii) a registered direct offering (the “Registered Direct Offering” and, together with the Rights Offering, the “Offerings”) of approximately $5.4 million of its common stock directly to certain investors (the “Registered Direct Offering Investors”), pursuant to a common stock purchase agreement (the “Purchase Agreement”) entered into between the Company and the Registered Direct Offering Investors. SMTC ultimately intends to use the net pr
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