Popular on EntSun
- IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement - 227
- BillBoards Inc. Hits the Road with God Bless America Tour and Reality Series Now Streaming on Tubi TV - 173
- databahn Launches GenAI Sales Intelligence Platform to Revolutionize Fortune 500 and Global 2000 Account Research - 134
- Byrd Davis Alden & Henrichson Launches Independence Day Safe Ride Initiative with 500 Free Uber Credits - 126
- The ITeam Ranked on Channel Partners 2025 MSP 501—Tech Industry's Most Prestigious List of Managed Service Providers Worldwide - 119
- Revolutionary Blockchain Platform Okh Finance Announces Okh Finance(OKKH) Token Launch to Transform Global Asset Leasing Market - 119
- Agreement to Supply US-Based Defense Provider with Thin-Film Solar Tech for Orbital Application; Ascent Solar Technologies, Inc. (N A S D A Q: ASTI) - 117
- NYC Leadership Strategist Stacie Selise Launches Groundbreaking 4S Framework Series to Redefine Executive Excellence - 113
- Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations - 107
- Josh and Heidi Follow Up the Much Anticipated and Successful Launch of the "Spreading the Good BUZZ" Podcast with a Personal Request - 106
Similar on EntSun
- Pixel Studio Productions Launches Same-Day Headshots in Houston
- SeedList Launching Institutional Crypto Crowdfunding Project to Empower Retail Investors and Disrupt the VC-Dominated Crypto Fundraising Landscape
- Seligson Law Launches New Website to Support Cannabis Businesses in California and New York
- databahn Announces Subscription Access to Fortune 500 GenAI Deep Dive Sales Intelligence Reports
- AI startup Congero offers instant websites with 24/7 updates - aiming to replace web agencies
- WonderDays Launches the UK's First AI Experience Gift Finder – Gifting Just Got So Much Easier!
- Nonprofit innovator named Mensa Executive Director
- Yasmine Roulleau named Managing Director in Vancouver, Canada
- Agreement to Deliver Thin-Film Solar Technology to Space Solar Array Provider, NASA Collaborative Agreement for Orbital Applications in Power Beaming
- Iterators LLC Honored with IST82 State Award for Accessibility in Massachusetts
Astrotech Increases Previously Announced Bought Deal Offering of Common Stock to $32.5 Million
EntSun News/10874024
AUSTIN, Texas--(BUSINESS WIRE)--Astrotech Corporation (NASDAQ: ASTC), today announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 21,639,851 shares of common stock of the Company at a price to the public of $1.50 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about April 12, 2021, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The Company also has granted to the underwriter a 30-day option to purchase up to an additional 3,245,977 shares of common stock at the public offering price, less underwriting discounts and commission.
The gross proceeds of the offering are expected to be approximately $32.5 million, before deducting underwriting discounts and commissions and offering expenses payable by Astrotech and assuming no exercise of the option to purchase additional shares. Astrotech intends to use the net proceeds of the offering for general corporate purposes, working capital, and capital expenditures.
The securities described above are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-253835) filed with the Securities and Exchange Commission (SEC) and declared effective on March 15, 2021 and the accompanying prospectus contained therein. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to this offering were filed with the SEC and are available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when filed, may be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail at placements@hcwco.com or by calling (212) 856-5711.
More on EntSun News
This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation, or sale is unlawful. Any offer, if at all, will be made only by means of the prospectus forming a part of the effective registration statement.
About Astrotech Corporation
Astrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. Astrotech is headquartered in Austin, Texas. For information, please visit www.astrotechcorp.com.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including regarding the anticipated closing of the offering. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of net proceeds from the public offering, the Company's ability to obtain additional financing, the severity and duration of the COVID-19 pandemic and its impact on the U.S. and worldwide economy, the timing, scope and effect of further U.S. and international governmental, regulatory, fiscal, monetary and public health responses to the COVID-19 pandemic, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, and whether the market will accept our products and services, market and other conditions, as well as other risk factors and business considerations described in the Company's Securities and Exchange Commission filings including our annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent the Company's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to update these forward-looking statements.
More on EntSun News
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The Company also has granted to the underwriter a 30-day option to purchase up to an additional 3,245,977 shares of common stock at the public offering price, less underwriting discounts and commission.
The gross proceeds of the offering are expected to be approximately $32.5 million, before deducting underwriting discounts and commissions and offering expenses payable by Astrotech and assuming no exercise of the option to purchase additional shares. Astrotech intends to use the net proceeds of the offering for general corporate purposes, working capital, and capital expenditures.
The securities described above are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-253835) filed with the Securities and Exchange Commission (SEC) and declared effective on March 15, 2021 and the accompanying prospectus contained therein. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to this offering were filed with the SEC and are available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when filed, may be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail at placements@hcwco.com or by calling (212) 856-5711.
More on EntSun News
- California Family Launches Billboard to Reach "Pardon Czar" Alice Marie Johnson
- Performance Slots Available: Collision Course Concert Series Heads to Atlanta, Tampa & Brooklyn
- Rent Like A Champion Acquires CollegeWeekends
- Sumter Landing Dental Care Launches Summer Special on Full Mouth Reconstruction
- Seligson Law Launches New Website to Support Cannabis Businesses in California and New York
This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation, or sale is unlawful. Any offer, if at all, will be made only by means of the prospectus forming a part of the effective registration statement.
About Astrotech Corporation
Astrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. Astrotech is headquartered in Austin, Texas. For information, please visit www.astrotechcorp.com.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including regarding the anticipated closing of the offering. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of net proceeds from the public offering, the Company's ability to obtain additional financing, the severity and duration of the COVID-19 pandemic and its impact on the U.S. and worldwide economy, the timing, scope and effect of further U.S. and international governmental, regulatory, fiscal, monetary and public health responses to the COVID-19 pandemic, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, and whether the market will accept our products and services, market and other conditions, as well as other risk factors and business considerations described in the Company's Securities and Exchange Commission filings including our annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent the Company's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to update these forward-looking statements.
More on EntSun News
- databahn Announces Subscription Access to Fortune 500 GenAI Deep Dive Sales Intelligence Reports
- AI startup Congero offers instant websites with 24/7 updates - aiming to replace web agencies
- The Recording Academy Extends Invitation to The World's No.1 Superstar™—But He's Not Chasing the Award
- WonderDays Launches the UK's First AI Experience Gift Finder – Gifting Just Got So Much Easier!
- CelluHeal™ Launches Full Line of Advanced Wound Dressings for Online Purchase in the USA, Canada, and Beyond
Filed Under: Business
0 Comments
Latest on EntSun News
- Opteamix Launches StackRewrite.AI to Transform Enterprise Legacy Modernization
- Planet Maldek: Watcher Files Unseals Explosive New Theory About Mars' True Origins
- DatsJustice Ignites the Industry with New Single "Dead Or Alive" & Announces 2025 Tour Kickoff
- "The Pornified Generation": Dr. Chris Samuels Exposes the Toxic Alliance Between Bro Culture and Pornography That's Rewiring a Generation
- Meet a Scientologist Builds Aussie Dreams with Mike and Jonny Hibbard
- Overwhelmed: Rick Denzien's Stark and Stirring Climate Anthem
- The 2025 ESPY Awards After Party- Presented by Poppi & High Noon
- The Modern Insurance Store Expands Medicare Help Services for Seniors in Cincinnati
- Ironside HR Named Fastest-Growing Staffing Firm for Second Year
- Inframark Continues to Build Its Community Management Capabilities and Multi-Disciplinary Presence in Arizona
- ICAST 2025: The Crystal-Clear Revolution Begins at Booth #3233
- Brindle Pet Supplies Now Carries Badlands Ranch Dog Food in Canada
- $10 Million Allocated to Establish Crypto Treasury Focused on High Value Ethereum (ETH) & Bitcoin (BTC) as Long-Term Holdings for Cybersecurity Leader
- Sing For Your Supper: A Night of Musical Comedy and Drag for a Great Cause
- Cummings Graduate Institute for Behavioral Health Studies Celebrates New DBH Graduates
- $100 to $200 Million Equity Agreement with Top Digital Advisor Bitwise to Power Major Digital Asset Initiative for Bitcoin and Solana: OFA Group
- InSpired Brings World Premiere to the Weinberg Center This October
- New Collaboration Launches Corporate ESG Solution for Responsible Decommissioning and Transparent Reporting
- SlickCashLoan Launches Free Loan Calculator to Help You Plan Monthly Payments
- Hot New Fantasy Series Alert: The Key to Wonderland Captivates Readers with Dark Magic and Twisted Romance