TechPrecision Announces Pricing and Closing of $2.3 Million Private Placement
TechPrecision Announces Pricing and Closing of $2.3 Million Private Placement
WESTMINSTER, MA / ACCESSWIRE / July 8, 2024 / TechPrecision Corporation (NASDAQ:TPCS) ("TechPrecision" or "we," "us" or "our"), announced today that it has entered into a securities purchase agreement with certain accredited investors for the purchase of 666,100 shares of its common stock and warrants to purchase up to an aggregate of 666,100 shares of common stock, in a private placement. The combined purchase price for one share of common stock and a warrant to purchase one share of common stock was $3.45. The warrants have an exercise price of $4.00 per share, will be exercisable beginning 6 (six) months after issuance, and will expire five years from the issuance date.
2024年7月8日,TechPrecision公司(纳斯达克:TPCS)宣布已与一些认可的投资者签订证券购买协议,购买其普通股666,100股和认购权,总计666,100股普通股。本次定向增发发行价格为每股普通股3.45美元,每股认购权定价4.00美元,自发行后6个月开始行使,有效期为发行日起五年。
Wellington Shields & Co. LLC acted as the exclusive placement agent for the private offering.
惠灵顿·席尔兹有限责任公司是私募发售的专属代理人。
The gross proceeds from the private placement offering were approximately $2.3 million. The private offering closed on July 8, 2024.
此次股票发行筹资总额约为230万美元。该私募发售于2024年7月8日结束。
The securities described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder, and have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.
所述证券是在《1933年证券法》第4(a)(2)节下和根据该规定制定的D条款下的私人发售中提供的,并且未根据证券法或适用的州证券法注册。因此,除了根据有效的注册声明或证券法和适用的州证券法的豁免条件,否则不能在美国发行或销售这些证券。
Under an agreement with the investors, the Company is required to file an initial registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock issued to the investors, the warrants issued to the investors and the shares of common stock underlying the warrants described above within 30 calendar days and to use its best efforts to have the registration statement declared effective as promptly as practical thereafter, and in any event no later than 60 days following the closing date.
根据投资者的要求,公司须在30天内提出初始注册声明,并涵盖发行给投资者的普通股份、发行给投资者的认购权和上述认购权下的普通股份,并在收盘日后60天内尽最大努力使注册声明尽快生效。
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
本新闻稿不构成出售或推介任何证券的要约,这些证券在任何未经其合格或注册于任何此类州或其他司法辖区的证券法规定之前,在任何该等州或其他司法辖区都将非法销售。
About TechPrecision Corporation
关于TechPrecision Corporation
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc. and STADCO, manufacture large-scale, metal fabricated and machined precision components and equipment. These products are used predominantly in the defense, aerospace, and precision industrial markets. TechPrecision's goal is to be an end-to-end service provider to its customers by furnishing customized solutions for completed products requiring custom fabrication and machining, assembly, inspection, and testing. To learn more about the Company, please visit the corporate website at . Information on the Company's website or any other website does not constitute a part of this press release.
TechPrecision Corporation通过其全资子公司Ranor, Inc.和STADCO制造大规模、金属制造和精密机械制造的零部件和设备。这些产品主要用于国防、航天和精密工业市场。TechPrecision的目标是成为客户的端到端服务提供商,为需要定制制造和加工、组装、检验和测试的完成产品提供定制化解决方案。如需了解更多信息,请访问公司网站。公司网站或其他网站上的信息并不构成本新闻稿的一部分。公司网站或其他网站上的信息并不构成本新闻稿的一部分。
Safe Harbor Statement
Safe Harbor声明
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements other than statements of current or historical fact contained in this press release, including statements that express our intentions, plans, objectives, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "should," "would" and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements are based on current expectations, estimates and projections made by management about our business, our industry and other conditions affecting our financial condition, results of operations or business prospects. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, the forward-looking statements due to numerous risks and uncertainties. Factors that could cause such outcomes and results to differ include, but are not limited to, risks and uncertainties arising from: our reliance on individual purchase orders, rather than long-term contracts, to generate revenue; our ability to balance the composition of our revenues and effectively control operating expenses; external factors that may be outside of our control, including health emergencies, like epidemics or pandemics, the Russia-Ukraine and Israel-Hamas conflicts, price inflation, interest rate increases and supply chain inefficiencies; the availability of appropriate financing facilities impacting our operations, financial condition and/or liquidity; our ability to receive contract awards through competitive bidding processes; our ability to maintain standards to enable us to manufacture products to exacting specifications; our ability to enter new markets for our services; our reliance on a small number of customers for a significant percentage of our business; competitive pressures in the markets we serve; changes in the availability or cost of raw materials and energy for our production facilities; restrictions in our ability to operate our business due to our outstanding indebtedness; government regulations and requirements; pricing and business development difficulties; changes in government spending on national defense; our ability to make acquisitions and successfully integrate those acquisitions with our business; our failure to maintain effective internal controls over financial reporting; general industry and market conditions and growth rates; general economic conditions; and other risks discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). Any forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by applicable law. Investors should evaluate any statements made by us in light of these important factors.
本发布包含某些关于公司及其子公司业务的“前瞻性声明”。本新闻稿中除了当前或历史事实陈述以外的所有声明,包括表达我们意图、计划、目标、信念、期望、战略、预测或其他涉及未来活动或其他未来事件或条件的任何声明都是前瞻性声明。这些与我们相关的表达“预测”、“估计”、“期望”、“计划”、“意味着”、“信任”、“预期”“可能”、“计划”、“预测”、“项目”、“将要”、“应该”、“类似”及其它类似的表述。这些符号用于描绘我们关于企业、行业和其他影响我们财务状况、经营业绩或商业前景的情况的目前期望、估计和预测。这些陈述并不保证未来的业绩和结果,并存在着难以预测的风险、不确定性和假设。因此,实际结果可能与前瞻性陈述中表达或预测的不同,这主要是由于众多风险和不确定性。可能导致此类结果和结果不同的因素包括,但不限于,我们依赖于单个采购订单而不是长期合同来产生收入;我们如何平衡营收构成并有效控制营业成本;可能超出我们控制的外部因素,包括健康紧急情况,如流行病或大流行病、俄罗斯-乌克兰和以色列哈马斯的冲突、价格通货膨胀、利率上升和供应链效率低下;合适的融资设施对我们的运营、财务状况和/或流动性的影响;我们能否通过竞争性投标过程获得合同奖励;我们能否保持标准以使我们能够按严格规格制造产品;我们能否进入我们的服务的新市场;我们依赖少量客户占业务的重大比例;我们所服务的市场中的竞争压力;生产设施所需的原材料和能源可用性或成本的变化;我们无法经营业务的限制,由于未偿还负责任;政府法规和要求;价格和业务发展难题;政府国防支出的变化;我们是否能够收购和成功地将该收购与我们的业务整合;我们未能维护有效的内部财务报告控制;一般行业和市场条件和增长率;一般经济条件;以及公司定期提交给证券交易委员会并在其网站上公开的其他风险。任何前瞻性声明均仅有效期截止到其发表日期,我们无义务公开更新或修订任何前瞻性声明以反映之后可能发生的事件或情况,除非适用法律要求。投资者应根据这些重要因素来评估我们所作的任何声明。
Company Contact:
公司联系人:
Ms. Barbara Lilley
Chief Financial Officer
TechPrecision Corporation
Tel: 978-883-5102
Email: lilleyb@ranor.com
电话:978-883-5102
致富金融(临时代码) - 首席财务官
TechPrecision公司
电话:978-883-5102
电子邮件:lilleyb@ranor.com
Investor Relations Contact:
投资者关系联系人:
Hayden IR
Brett Maas
Phone: 646-536-7331
Email: brett@haydenir.com
海登IR
Brett Maas
电话:646-536-7331
电子邮件:brett@haydenir.com
SOURCE: TechPrecision Corp.
来源:TechPrecision Corp.