Welcome to our dedicated page for Techprecision news (Ticker: TPCS), a resource for investors and traders seeking the latest updates and insights on Techprecision stock.
TechPrecision Corporation (TPCS) delivers mission-critical precision manufacturing solutions for defense, aerospace, and specialized industrial sectors through its Ranor and Stadco subsidiaries. This news hub provides investors and industry professionals with timely updates on the company's operational milestones, financial performance, and strategic developments.
Access consolidated coverage of earnings reports, government contract awards, and manufacturing innovations that demonstrate TPCS's capabilities in large-scale metal fabrication and complex assembly projects. Our curated news selection emphasizes material developments impacting the company's position in regulated industries requiring ITAR compliance and AS9100-certified processes.
Key updates include announcements about defense sector partnerships, advanced machining technologies, and nuclear industry certifications. Bookmark this page for efficient tracking of TPCS's progress in delivering turnkey solutions for hypersonic systems, military aircraft components, and other high-precision applications.
Wynnefield Partners, the largest stockholder of TechPrecision (NASDAQ: TPCS), has launched a campaign to rebuild the company's credibility. They are nominating two new directors, General Victor Eugene Renuart Jr. and Robert D. Straus, for election at the upcoming 2024 Annual Meeting. Wynnefield cites TechPrecision's poor stockholder returns, recent M&A failures, and lack of transparency as reasons for change.
The group highlights TechPrecision's underperformance compared to the Russell Micro Index, with a -37.7% 5-year return versus the index's 30.1%. They criticize the failed Votaw acquisition and the underperforming STADCO acquisition, which resulted in significant stockholder dilution. Wynnefield emphasizes the need for new independent voices, increased transparency, and disciplined business judgment on the board to enhance stockholder value.
TechPrecision (NASDAQ:TPCS) has received a standard notice from Nasdaq on July 18, 2024, indicating non-compliance with Listing Rule 5250(c)(1) due to the delayed filing of its Annual Report on Form 10-K for the fiscal year ended March 31, 2024. The company has until September 16, 2024, to submit a compliance plan, with a possible extension until January 13, 2025. This notification does not immediately affect TPCS's listing or trading on the Nasdaq Capital Market. The company has filed a Current Report on Form 8-K with the SEC providing additional details about the Nasdaq notifications and related terms.
TechPrecision (NASDAQ: TPCS) has announced the successful pricing and closing of a $2.3 million private placement. The transaction involved the purchase of 666,100 shares of common stock and an equal number of warrants, priced at $3.45 per unit. Each warrant has an exercise price of $4.00 per share, becomes exercisable six months post-issuance, and expires five years from issuance. The offering, facilitated by Wellington Shields & Co. , was conducted under Section 4(a)(2) of the Securities Act of 1933 and Regulation D. TechPrecision is required to file a registration statement within 30 days to cover the resale of the issued shares and warrants.
TechPrecision announced preliminary Q4 2024 financials and filed Form 12b-25 for an extension to file the FY 2024 Annual Report. For Q4 2024, Ranor had net sales of $4.53 million with $246,822 net income, and STADCO had net sales of $5.02 million with $379,446 net income. TechPrecision reported no revenue but incurred $400,000 in recurring expenses and $1 million in one-time expenses related to the terminated Votaw Precision Technologies acquisition. These unaudited results are preliminary and may change.
The extension for the FY 2024 report is due to delays in integrating Stadco's financial reporting processes. The company aims to file the report within 15 days of the original due date but cannot guarantee future reporting will be unaffected.
FAQ
What is the current stock price of Techprecision (TPCS)?
What is the market cap of Techprecision (TPCS)?
