Optical Coating Laboratory, Inc. Announces the Completion of a Public Stock Offering.SANTA ROSA, Calif., May 21 /PRNewswire/ -- Optical Coating An optical coating is a process of placing thin layer of material on an optical component such as a lens or mirror which alters the way in which the optic reflects and transmits light. Laboratory, Inc. (OCLI) (Nasdaq: OCLI) announced the completion of a follow-on offering Follow-On Offering
An offering of additional shares after a company has had an initial public offering.
This sometimes means the company is strapped for cash. So they need to issue more shares to pay bills or finance a new project. of 1,617,000 shares of Common Stock at a price of $70.00 per share. Of the 1,617,000 shares being offered, 1,300,000 shares are being offered by the Company and 317,000 shares are being offered by selling stockholders. The Company will not receive any of the proceeds from the sale of shares by the selling stockholders. The Company has also granted the Underwriters an option to purchase up to 234,500 additional shares of Common Stock to cover over-allotments, if any. The shares are being offered through underwriters led by Hambrecht & Quist and co-managed by Banc of America Securities and SoundView Technology Group.
The Company intends to use the net proceeds Net Proceeds
The amount received after all costs are deducted from the sale of a piece of property or security.
In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from this offering for working capital and other general corporate purposes. The Company also intends to use a portion of the net proceeds to fund the growth of its subsidiary, Flex Products, Inc., and support the growth in the Company's telecommunications market. In addition, the Company may use a portion of the proceeds to acquire complementary businesses, products, services or technologies.
This press release is not intended as an offer to sell or a solicitation or offer to buy these securities nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.
A final prospectus Final Prospectus
A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors.
The final prospectus must be given to every investor who purchases a new issue of registered securities. relating to relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc this offering may be obtained from the offices of Hambrecht & Quist, One Bush Street, San Francisco, CA 94104; Banc of America Securities, 600 Montgomery Street, San Francisco, CA 94111; or SoundView Technology Group, 22 Gatehouse Road, Stamford, CT 06902.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties. Actual results may vary significantly based on a number of factors including, but not limited to: product development, commercialization and technological difficulties; manufacturing cost, yield and throughput issues associated with initiating production at new facilities; the impact of competitive products and pricing; changing customer requirements and buying patterns; timely availability and acceptance of new products; and the change in economic conditions of the various markets served by OCLI and its Subsidiaries.
Optical Coating Laboratory, Inc. (OCLI) is a worldwide leader in optical thin film coating technologies. OCLI's products are found in many applications including computer displays, telecommunications equipment, photocopiers, fax machines, medical and analytical instruments, communications satellites and aerospace and defense systems. Flex Products, Inc., OCLI's wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. , designs and manufactures thin film coatings on flexible substrates using high vacuum roll-to-roll processes. Flex supplies critical pigments for use in anti-counterfeiting applications, energy conserving window film for residential, commercial, and automotive applications and ChromaFlair(R) light interference pigments for commercial paints. For more information about OCLI, visit its web site at www.ocli.com.