Key Developments For Bolt Technology Corporation
Bolt Technology Corporation (BOLT.O) (Nasdaq)
Bolt Technology Corporation Announces Filing Of Universal Shelf Registration Statement
Bolt Technology Corporation announced that it has filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). Upon being declared effective by the SEC, the shelf registration statement will allow Bolt to offer and sell from time to time in the future, in one or more public offerings, up to $50 million of equity, debt, or other types of securities described in the registration statement, or any combination of such securities. The proceeds of the securities may be used for acquisitions, capital expenditures, repayment of debt the Company may incur in the future, working capital and other general corporate purposes. The specifics of any potential future offering, along with the prices, terms and use of proceeds of any securities offered by the Company, will be determined at the time of any applicable offering and will be described in a prospectus supplement at the time of such applicable offering.
Bolt Technology Corporation Completes Sale of Custom Products To A&A Manufacturing Co., Inc.
Bolt Technology Corporation announced that the closing of the sale of substantially all of the assets of its wholly owned subsidiary, Custom Products Corporation to A&A Manufacturing Co., Inc. pursuant to the terms of a definitive agreement entered into on May 6, 2008. The sale price was $5,250,000 in cash, subject to certain post-closing adjustments.
Bolt Technology Corporation Announces Agreement To Sell Subsidiary
Bolt Technology Corporation announced that it has signed a definitive agreement for the sale of substantially all of the assets of its wholly owned subsidiary, Custom Products Corporation (Custom Products) to A&A Manufacturing Co., Inc. (A&A) which is located in New Berlin, Wisconsin for $5,250,000 in cash, subject to certain post closing adjustments. The closing of the sale is anticipated to occur prior to Bolt's fiscal year end of June 30, 2008.
Bolt Technology Corporation Delists From AMEX
Bolt Technology Corporation announced that it has been delisted from the American Stock Exchange (AMEX). Bolt Technology Corporation's common shares will be listed on NASDAQ trading under the new ticker "BOLT".
Bolt Technology Corporation Completes Acquisition Of Real Time Systems' Assets
Bolt Technology Corporation announced the closing, effective July 1, 2007, of the acquisition of substantially all of the assets of Real Time Systems (RTS). The initial purchase price consists of $3,500,000 (paid at closing) plus the net book value of the acquired assets as of July 1, 2007 (estimated to be approximately $1,000,000 and payable upon finalization of the July 1, 2007 balance sheet). In addition, if the acquired business achieves certain sales levels in the two years from July 1, 2007, further payments will be due. The Company's existing cash balances will fund the purchase price.
