LGL Group says subscription rights offering draws 92.2% take-up, issues 6,042,031 shares at USD 6.9
LGL•Rights offering nearly fully subscribed
The LGL Group reported preliminary results showing 92.2% of shares in its transferable subscription rights offering were subscribed.
Subscriptions covered 6,042,031 common shares at $6.9 each, generating about $41.7 million in gross proceeds.
Pro forma cash, cash equivalents, and marketable securities rose to more than $85 million.
The rights offering expired July 15; shares will be issued to participating stockholders as soon as practicable.
Final results are expected around July 24, subject to verification, guaranteed delivery notices, and possible proration.
