 |
 |
Date Announced: 24 Feb 2025
Capacity expansion in the works for the optical instrument maker.
GARDNER, Mass., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries today announced the closing of its registered direct offering of common stock.
The offering consisted of 1,272,500 shares of the Company's common stock at a purchase price of $4.00 per share, resulting in gross proceeds of approximately $5.1 million, and expected net proceeds of approximately $5.0 million after deducting offering expenses. The Company intends to use the net proceeds from the offering to repay certain indebtedness, expand its facilities to support expected growth and related general working capital purposes.
Joseph Forkey, CEO of Precision Optics, commented, “We appreciate the ongoing support of several existing and new shareholders as we plan our capacity expansion to meet the growth we anticipate in coming quarters and years.”
This offering was conducted pursuant to an effective shelf registration statement on Form S-3 (File No. 333-280047) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on June 14, 2024. A prospectus supplement dated February 19, 2025 describing the terms of the offering was filed with the SEC on February 20, 2025 and is available on the SEC’s website located at http://www.sec.gov.
Source: Precision Optics
E-mail: sales@poci.com
Web Site: www.poci.com
| © 2025 SPIE Europe |
|
