IntriCon Prices Common Stock Offering
May 13 2016 - 9:16AM
Business Wire
IntriCon Corporation (NASDAQ:IIN), a designer, developer,
manufacturer and distributor of miniature and micro-miniature
body-worn devices, today announced that it has priced a public
offering of 700,000 shares of its common stock at a public offering
price of $5.25 per share. All of the shares are being sold by the
company. The offering is expected to close on May 18, 2016, subject
to customary closing conditions. Dougherty & Company LLC is
serving as the sole underwriter for the offering. The Company has
granted the underwriter a 30-day option to purchase up to an
additional 105,000 shares of common stock.
IntriCon expects net proceeds of approximately $3.118 million,
after deducting underwriting discounts and estimated offering
expenses (without giving effect to any exercise of the
underwriters’ option to purchase additional shares). The company
intends to use these net proceeds for working capital and general
corporate purposes.
The shares will be issued pursuant to a shelf registration
statement on Form S-3 previously filed with and declared effective
by the Securities and Exchange Commission (the “SEC”) and a final
prospectus supplement relating to the offering. Copies of the final
prospectus supplement, when available, and the accompanying base
prospectus may be obtained at the SEC’s website at www.sec.gov or
from Dougherty & Company LLC, Attention: Joseph Sullivan,
Corporate Finance and Investment Banking, 90 South 7th Street,
Suite 4300, Minneapolis, MN 55402, or toll free at (800)
328-4000.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the shares described herein or any
other securities, nor shall there be any sale of these shares in
any state or other jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of such state or other jurisdiction. The
offering may be made only by means of a prospectus supplement and
the accompanying base prospectus.
About IntriCon Corporation
Headquartered in Arden Hills, Minn., IntriCon Corporation
designs, develops and manufactures miniature and micro-miniature
body-worn devices. These advanced products help medical, healthcare
and professional communications companies meet the rising demand
for smaller, more intelligent and better connected devices.
IntriCon has facilities in the United States, Asia, United Kingdom
and Europe. The company’s common stock trades under the symbol
“IIN” on the NASDAQ Global Market. For more information about
IntriCon, visit www.intricon.com.
Forward-Looking Statements
Statements made in this release and in IntriCon’s other public
filings and releases that are not historical facts or that include
forward-looking terminology are “forward-looking statements” within
the meaning of the Securities Exchange Act of 1934, as amended.
These forward-looking statements may be affected by known and
unknown risks, uncertainties and other factors that are beyond
IntriCon’s control, and may cause IntriCon’s actual results,
performance or achievements to differ materially from the results,
performance and achievements expressed or implied in the
forward-looking statements. These risks, uncertainties and other
factors are detailed from time to time in the company’s filings
with the Securities and Exchange Commission, including the Annual
Report on Form 10-K for the year ended December 31, 2015. The
company disclaims any intent or obligation to publicly update or
revise any forward-looking statements, regardless of whether new
information becomes available, future developments occur or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160513005440/en/
At IntriCon:Scott Longval,
651-604-9526CFOslongval@intricon.comorAt PadillaCRT:Matt Sullivan,
612-455-1709matt.sullivan@padillacrt.com
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