Frequency Electronics launched an underwritten public offering of USD 100 million in common stock.
USD 62.5 million of shares will be sold by the company; USD 37.5 million will be sold by Edenbrook funds.
Underwriters have a 30-day option to buy up to an additional USD 15 million of shares from the company.
The company said its portion of proceeds will be used for growth investments, including capital spending, working capital and general corporate purposes.
Morgan Stanley is leading the deal, and Craig-Hallum is also serving as book-running manager.
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