IPG Photonics Corporation Launches Public Offering of Shares
OXFORD, Mass.--(BUSINESS WIRE)--
Photonics Corporation (Nasdaq Global Market: IPGP) ("IPG" or the
"Company") today announced that it has commenced a public offering of up
to 3,000,000 shares of its common stock, consisting of 2,800,000 shares
to be sold by the Company and up to 200,000 shares to be sold by the
Company's chairman and chief executive officer, Dr. Valentin P.
Gapontsev. The Company intends to grant to the underwriters a 30-day
option to purchase up to an additional 450,000 shares of the Company's
The Company plans to use the net proceeds of the offering for general
corporate purposes and to fund capital expenditures and working capital
requirements. The Company may also use some of the net proceeds for
acquisitions of complementary businesses and technologies, although no
such acquisitions are currently pending.
BofA Merrill Lynch will be the sole bookrunning manager for this
offering and Needham & Company, LLC and Stifel Nicolaus Weisel will act
An automatic shelf registration statement relating to the securities to
be offered in this offering was filed with the Securities and Exchange
Commission (the "SEC") on February 27, 2012. The offering of these
securities will be made pursuant to a prospectus supplement to the
prospectus contained in the shelf registration statement, which
prospectus supplement will be filed with the SEC. The prospectus and
prospectus supplement will be available at no charge on the SEC's Web
site at www.sec.gov.
When available, copies of the prospectus and prospectus supplement also
may be obtained from BofA Merrill Lynch, 4 World Financial Center, New
York, NY 10080, Attention: Prospectus Department, or by emailing a
request to firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state.
About IPG Photonics Corporation
Photonics Corporation is the leading developer and manufacturer of a
broad line of high-performance fiber lasers, fiber amplifiers and diode
lasers that are used in numerous applications in diverse end markets.
IPG has its headquarters in Oxford, Massachusetts, and has additional
plants and offices throughout the world. For more information, please
IPG Photonics Corporation
Tim Mammen, 508-373-1100
Executive Vice President
Source: IPG Photonics Corporation
News Provided by Acquire Media