Key Developments For Flow International Corporation
Flow International Corporation (FLOW.O) (Consolidated Issue listed on NASDAQ Global Market)
Flow International Corp. Announces Exercise of Common Share Over-Allotment Option
Flow International Corp. announced that the underwriters of its public offering of 7,825,000 of its common shares have exercised, in full, their over-allotment option to purchase an additional 1,173,750 shares of common stock at the public offering price of $2.10 per share. Total net proceeds to the Company from the entire offering, including the over-allotment, are approximately $17.2 million. Flow intends to use the net proceeds from the offering for the repayment of debt under its credit facility and for general corporate purposes. Roth Capital Partners, LLC acted as the sole underwriter for the offering.
Flow International Corp. Completes Offering of Common Shares
Flow International Corp. announced that it has closed the public offering of 7,825,000 of its common shares at $2.10 per share. Net proceeds from the offering are approximately $14.9 million. The Company has granted the underwriter an option to purchase up to an additional 1,173,750 shares of common stock at the public offering price, less the underwriting commission, within 30 days following pricing. The Company intends to use the net proceeds from the offering for the repayment of debt under its credit facility and for general corporate purposes.
Flow International Corp. Prices Offering Of Common Shares
Flow International Corp. announced the pricing of its public offering of 7,825,000 of its common shares at $2.10 per share. Gross proceeds from the offering are expected to be approximately $16.4 million. Flow has granted the underwriter an option to purchase up to an additional 1,173,750 shares of common stock at the public offering price, less the underwriting commission, within 30 days following pricing. The offering is expected to close on or around September 8, 2009. Flow intends to use the net proceeds from the offering for the repayment of debt under its credit facility and for general corporate purposes. Roth Capital Partners, LLC acted as the sole underwriter for the offering.
Flow International Corp. Announces Intent For Common Stock Offering
Flow International Corp. announced its intention to offer, subject to market and other customary conditions, up to 9 million shares of common stock through Roth Capital Partners, LLC. The shares described above are being offered by Flow pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission on July 16, 2009. Flow intends to use the net proceeds from this offering for the repayment of debt under its credit facility and for general corporate purposes.
Flow International Corp. Receives Multi-Million Dollar Aerospace Contract
Flow International Corp. announced that it has received a contract worth in excess of $5 million to manufacture and install a Composite Machining Center abrasive waterjet and routing machine tool system. This machine will be used for a major single aisle airframe program.
