TUALATIN, Oregon, Oct. 23, 2017 /PRNewswire/ -- CUI Global,
Inc. (NASDAQ: CUI), (the "Company") today announced the closing of
its previously announced underwritten public offering of 7,392,856
shares of its common stock at a public offering price
of $2.80 per share, including 964,285 shares sold at the
public offering price pursuant to the underwriter's exercise in
full of its option to purchase additional shares to cover
over-allotments. The net proceeds to CUI Global (after deducting
the underwriting discount and other estimated expenses payable by
the Company) were approximately $19.2 million.
The Company intends to use the net proceeds from the
offering primarily for general corporate purposes, which may
include operating expenses, working capital to improve and promote
its commercially available products, advance product candidates,
future acquisitions or share repurchases, expand international
presence and commercialization, general capital expenditures and
satisfaction of debt obligations.
Additional Offering Information
Craig-Hallum Capital Group acted as the sole
managing underwriter for the offering.
A shelf registration statement on Form S-3 (File No. 333-216672)
relating to the shares of common stock offered was declared
effective by the Securities and Exchange Commission ("SEC"). This
offering was made by means of a prospectus supplement and
accompanying prospectus, copies of which may be obtained from the
SEC's website at http://www.sec.gov or from Craig-Hallum
Capital Group LLC, 222 South Ninth Street, Suite
350, Minneapolis, Minnesota
55402, by telephone at (612) 334-6300 or email
at prospectus@chlm.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected
World . . .
CUI Global, Inc. is a publicly traded company dedicated to
maximizing shareholder value through the acquisition and
development of innovative companies, products and technologies.
From Orbital Gas Systems' advanced GasPT platform targeting the
energy sector, to CUI Inc.'s digital power platform serving the
networking and telecom space, CUI Global and its subsidiaries have
built a diversified portfolio of industry leading technologies that
touch many markets. As a publicly traded company, shareholders are
able to participate in the opportunities, revenues, and profits
generated by the products, technologies, and market channels of CUI
Global and its subsidiaries. But most importantly, a commitment to
conduct business with a high level of integrity, respect, and
philanthropic dedication allows the organization to make a
difference in the lives of their customers, employees, investors
and global community.
For more information please visit www.cuiglobal.com.
Important Cautions Regarding Forward Looking
Statements
This document 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.
Such statements are subject to risks and uncertainties that could
cause actual results to vary materially from those projected in the
forward-looking statements. The Company may experience significant
fluctuations in future operating results due to a number of
economic, competitive, and other factors, including, among other
things, our reliance on third-party manufacturers and suppliers,
government agency budgetary and political constraints, new or
increased competition, changes in market demand, and the
performance or reliability of our products. These factors and
others could cause operating results to vary significantly from
those in prior periods, and those projected in forward-looking
statements. Additional information with respect to these and other
factors, which could materially affect the Company and its
operations, are included in certain forms the Company has filed
with the SEC.
Media
Contact:
CUI Global,
Inc.
Jeff
Schnabel
Main:
503-612-2300
press@cuiglobal.com
|
External IR
Counsel:
LHA
Sanjay M.
Hurry
212-838-3777
cuiglobal@lhai.com
|
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