Key Developments For Harris & Harris Group Inc
Harris & Harris Group Inc (TINY.O) (Consolidated Issue listed on NASDAQ Global Market)
Harris & Harris Group, Inc. Announces Closing Of Follow-On Public Offering
Harris & Harris Group, Inc. announced the closing of public follow on offering of 4,887,500 shares of common stock at a price of $4.75 per share to the public. The aggregate number of shares of common stock sold reflects the exercise in full by the underwriter of its over-allotment option to purchase 637,500 additional shares of common stock. The net proceeds to the Company after deducting underwriting discounts and estimated offering expenses are expected to be approximately $21,495,188. Needham & Company, LLC acted as sole book running manager in connection with the offering. The Company intends to use the net proceeds of the offering to make new venture capital investments in nanotechnology and microsystems as well as follow-on investments in our existing portfolio companies, and for operating expenses.
Harris & Harris Group, Inc. Announces Pricing Of Follow-On Public Offering
Harris & Harris Group, Inc. announced that it has priced a follow-on public offering of 4,250,000 shares of its common stock at a price of $4.75 per share. The Company expect net proceeds, after underwriting discounts and estimated offering expenses payable by the Company, of approximately $18,648,750 ($21,495,188 if the over-allotment option is exercised in full by the underwriter). The Company has also granted to Needham & Company, LLC, the sole book running manager in connection with the offering, a 30-day over-allotment option to purchase an additional 637,500 shares of the Company's common stock. The Company intends to use the net proceeds of the offering to make new venture capital investments in nanotechnology and microsystems as well as follow-on investments in the Company's existing portfolio companies, and for operating expenses. The closing is expected to take place on or about October 9, 2009.
Harris & Harris Group, Inc. Announces Proposed Follow On Public Offering
Harris & Harris Group, Inc. announced the proposed follow on public offering of shares of its common stock. The offering price of the shares will be determined by market conditions at the time of pricing in consultation with the underwriter of the offering. The offering is being made pursuant to a shelf registration statement, which was filed with and has been declared effective by the Securities and Exchange Commission. Needham & Company, LLC is acting as sole book running manager in the offering.
Harris & Harris Group, Inc. Announces 2,545,000 Share Common Stock Placement With Institutional Investors
Harris & Harris Group, Inc. announced that it has entered into definitive agreements with institutional investors to sell 2,545,000 shares of its common stock at a price of $6.15 per share through a registered offering, for net proceeds, after placement agent fees and estimated offering expenses, of approximately $14,387,645. The closing is expected to take place on or about June 20, 2008.
Harris & Harris Group, Inc. Announces Appointment Of Daniel B. Wolfe As President-8K
Harris & Harris Group, Inc. announced in its form 8K that Board of Directors of the Company determined that as of January 1, 2009, Daniel B. Wolfe, Chief Financial Officer and a Managing Director will also assume the roles of President and Chief Operating Officer of the Company. This appointment is part of the Board’s succession planning in anticipation of the scheduled retirement of Charles E. Harris on December 31, 2008, pursuant to the Company’s mandatory retirement plan for senior executives. As previously disclosed, Douglas W. Jamison, the Company’s current President and Chief Operating Officer, will succeed Charles E. Harris as Chairman and Chief Executive officer of the Company upon Mr. Harris’s retirement. Until December 31, 2008, Mr. Harris will continue to serve as Chairman and Chief Executive Officer and Mr. Jamison will continue to serve as President and Chief Operating Officer.
