Lantronix to Raise $30M Through 4.17M-Share Offering at $7.20
LTRX•Lantronix priced an underwritten offering of 4,166,667 shares at $7.20 per share, aiming to raise $30 million. Underwriters have a 30-day option to purchase up to 625,000 additional shares, with closing expected by June 1, 2026.
1. Offering Details
Lantronix has priced an underwritten offering of 4,166,667 common shares at an offering price of $7.20 per share, generating approximately $30 million in gross proceeds before deducting underwriting discounts, commissions and expenses. Needham & Company and Canaccord Genuity are acting as joint bookrunners on the transaction.
2. Use of Proceeds and Dilution
Net proceeds are intended to fund ongoing operations and strategic growth initiatives, but the share issuance will increase the total share count and dilute existing shareholders’ ownership percentage. Exact allocation of funds and dilution metrics will be detailed in the final prospectus supplement.
3. Underwriters’ Overallotment Option
Lantronix has granted the underwriters a 30-day option to purchase up to 625,000 additional shares at the same $7.20 price, which could provide up to $4.5 million in incremental gross proceeds if exercised in full.
4. Expected Closing and Conditions
The offering is scheduled to close on or about June 1, 2026, subject to satisfaction of customary closing conditions under the company’s SEC-registered shelf registration statement filed in February 2025.
