Syntec Optics Raises $20 Million via 2.86M Share Offering with 30-Day Option
OPTX•Syntec Optics closed an underwritten offering of 2,857,142 shares at $7.00, raising approximately $20 million before fees and expenses with a 30-day option for 428,571 additional shares. The company plans to deploy net proceeds toward acquisitions, complementary technologies, working capital, capital expenditures and potential debt repayment.
1. Public Offering Details
Syntec Optics sold 2,857,142 common shares at $7.00 each, generating roughly $20 million in gross proceeds. H.C. Wainwright & Co. served as sole book-running manager and the underwriter holds a 30-day option to acquire up to 428,571 additional shares at the offering price less discounts.
2. Planned Use of Proceeds
Net proceeds will fund acquisitions or investments in complementary businesses, technologies and products, as well as support working capital, capital expenditures and optimize the company’s capital structure, including potential repayment of outstanding debt.
3. Company Background
Headquartered in Rochester, New York, Syntec Optics is a vertically integrated optics and photonics manufacturer serving defense, satellite communications, biomedical diagnostics and data center AI markets, with capabilities spanning custom optics for LEO satellites, night-vision goggles and biomedical applications.
