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Pro-Dex Inc announces record date for planned rights offering


Monday, 10 Mar 2014 04:05pm EDT 

Pro-Dex Inc:Says a record date of Mar. 20 has been set for the company's planned rights offering.The Rights offering will be made through the company's distribution to existing shareholders as of the Record Date of non-transferable subscription rights to purchase their pro rata portion of newly issued shares of the company's common stock.Subscription price not determined.Purpose of the rights offering is to raise equity capital in a cost-effective manner that gives all of the company's existing shareholders the opportunity to participate on a pro rata basis.Intends to use the net proceeds to pursue strategic opportunities, for working capital and general corporate purposes.Upon completion of the rights offering, the company expects to receive gross proceeds of about $2.8 mln before expenses. 

Company Quote

2.33
0.02 +0.87%
19 Dec 2014