The LGL Group, Inc. Announces Terms for Rights Offering to Stockholders
August 16 2017 - 4:37PM
Business Wire
The LGL Group, Inc. (NYSE American:LGL) (the “Company” or
“LGL”) announced today that the Company has set the close of
trading on the New York Stock Exchange on September 5, 2017 as the
record date for its previously announced rights offering of common
stock. The Company also set the purchase price for the Common Stock
offered pursuant to the rights offering at $5.50 per share.
The Company previously filed with the Securities and Exchange
Commission a registration statement with respect to the planned
rights offering and the distribution of rights and commencement of
the rights offering is expected to occur promptly following the
effectiveness of that registration statement. The record date of
September 5, 2017 is subject to the effectiveness of the
registration statement occurring prior to such date. The Company
will announce additional information regarding the terms of the
rights offering when the information is available.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. The securities may not be sold nor may offers to
buy be accepted prior to the time the Registration Statement
becomes effective. This announcement shall not constitute an offer
to sell, or the solicitation of an offer to buy the subscription
rights or the underlying Common Stock, nor shall there be any sale
of these securities in any state in which such offer, solicitation
or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state. The
offering will be made only by means of a prospectus which is a part
of such registration statement
About The LGL Group, Inc.
The LGL Group, Inc., through its two principal subsidiaries
MtronPTI and PTF, designs, manufactures and markets
highly-engineered electronic components used to control the
frequency or timing of signals in electronic circuits, and designs
high performance Frequency and Time reference standards that form
the basis for timing and synchronization in various
applications.
Headquartered in Orlando, Florida, the Company has additional
design and manufacturing facilities in Yankton, South Dakota,
Wakefield, Massachusetts and Noida, India, with local sales offices
in Hong Kong, Sacramento, California and Austin, Texas.
For more information on the Company and its products and
services, contact Patti Smith at The LGL Group, Inc., 2525 Shader
Rd., Orlando, Florida 32804, (407) 298-2000, or visit
www.lglgroup.com and www.mtronpti.com.
Forward Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These include, without limitation, the statements
contained above regarding the proposed rights offering, and other
statements that are not historical facts. These statements involve
risks and uncertainties that could cause actual results and events
to differ materially, including the possibility that the
effectiveness of the Form S-1 may be delayed, or that the rights
offering may be cancelled before it closes. For a discussion of
further risks and uncertainties related to LGL’s business, please
refer to its public company reports and the Risk Factors enumerated
therein, including the Annual Report on Form 10-K for the year
ended December 31, 2016 and subsequent reports, filed with the SEC.
LGL undertakes no duty to update any forward-looking statement to
reflect any change in its expectations or any change in events,
conditions or circumstances on which any such statements are
based.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170816006064/en/
The LGL Group, Inc.Patti Smith,
407-298-2000pasmith@lglgroup.com
LGL (AMEX:LGL)
Historical Stock Chart
From Mar 2024 to Apr 2024
LGL (AMEX:LGL)
Historical Stock Chart
From Apr 2023 to Apr 2024