Transcat announced that it intends to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. All of the shares of common stock are being offered by Transcat. Transcat intends to use the net proceeds from the proposed offering to repay its credit facility with Manufacturers and Traders Trust Company, for working capital, and for other general corporate purposes. Oppenheimer & Co. is acting as sole book-running manager for the offering.
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Read More on TRNS:
- Transcat price target raised to $112 from $103 at Craig-Hallum
- Transcat files to sell 272K shares of common stock for holders
- Transcat price target raised to $106 from $102 at H.C. Wainwright
- Transcat files to sell 39K shares of common stock for holders
- Transcat reports Q1 adjusted EPS 52c, consensus 27c
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