Mesa Laboratories, Inc. Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares of Common Stock in Public Offering
Mesa Laboratories (NASDAQ: MLAB) announced the full exercise of underwriters' option to purchase 90,000 additional shares in its public offering, raising approximately $20.3 million.
Sentiment and the balance of points
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Rhea-AI Summary
Mesa Laboratories (NASDAQ: MLAB) announced the full exercise of underwriters' option to purchase 90,000 additional shares in its public offering, raising approximately $20.3 million. Combined with the initial offering proceeds, total gross proceeds reach about $155.3 million. The closing for the additional shares was completed on June 16, 2020. Mesa Labs plans to use the net proceeds for general corporate purposes, including potential acquisitions. The offering was conducted under its SEC shelf registration.
Positive
- Total gross proceeds of $155.3 million raised from the offering.
- Intended use of funds includes potential acquisitions, indicating growth opportunities.
Negative
- Dilution risk from the issuance of additional shares.
- Market uncertainties related to the actual use of proceeds.
Details
News Market Reaction – MLAB
The recorded move for MLAB in the trading session of this news was +1.01%.
Data tracked by StockTitan Argus. Session date unavailable.
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Source: Mesa Laboratories, Inc. – June 16, 2020 11:30 AM ET
Lakewood, Colo., June 16, 2020 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. (NASDAQ: MLAB) (“Mesa Labs”) today announced that the underwriters for its previously announced public offering of common stock have fully exercised their option to purchase 90,000 additional shares of Mesa Labs common stock. The issuance of the additional shares will result in additional gross proceeds of approximately
Mesa Labs intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions.
Jefferies LLC, J.P. Morgan and Evercore Group L.L.C. acted as joint book-running managers for the offering.
The offering was effected pursuant to Mesa Labs’ shelf registration statement (including a base prospectus), which Mesa Labs filed with the Securities and Exchange Commission (the “SEC”). The final prospectus supplement related to the offering was filed with SEC. Copies of the final prospectus supplement, including the base prospectus, may be freely obtained by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com, or from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com, or from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, the shares in any state or jurisdiction in which the offer, solicitation, or sale of the shares would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.
About Mesa Laboratories, Inc.
Mesa Labs is a multinational manufacturer, developer, and marketer of quality control products and services. The company offers products and services through four divisions: Sterilization and Disinfection Control, Biopharmaceutical Development, Instruments, and Continuous Monitoring. Mesa Labs is headquartered in Lakewood, Colorado, with operations in six countries and sales globally.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements regarding our future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding the anticipated use of proceeds of the offering, constitute forward-looking statements identified by words like “believe,” “expect,” “may,” “will,” “should,” “seek,” “anticipate,” or “could” and similar expressions. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, uncertainties related to market conditions. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Mesa Labs’ most recent Annual Report on Form 10-K on file with the SEC and the other reports that Mesa Labs periodically files with the SEC. Actual results may differ materially from those Mesa Labs contemplated by these forward-looking statements. These forward-looking statements reflect management’s current views, and Mesa Labs does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date hereof except as required by law.
Contact: Gary Owens, President and CEO John Sakys, CFO both of Mesa Laboratories, Inc. 303-987-8000
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