Innovative Solutions and Support enters $40M ATM equity offering with Stifel

INNOVATIVE SOLUTIONS & SUPPORT INC

Up to $40M of common stock may be sold at market through Stifel as sales agent.
Agent compensation capped at 3.0% of gross proceeds per share sold.
Company not obligated to sell shares; sales depend on market conditions and price.
Proceeds for general corporate purposes including debt repayment, acquisitions, and working capital.
Shares offered under effective shelf registration; prospectus supplement filed Sep 22, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INNOVATIVE SOLUTIONS & SUPPORT INC entered into ATM Sales Agreement with Stifel, Nicolaus & Company, Incorporated valued at up to $40 million (effective 2023-09-22).

Action: entry
Agreement: atm program
Counterparty: Stifel, Nicolaus & Company, Incorporated
Value: up to $40 million
Effective: 2023-09-22

Exact text from the filing

On September 22, 2023, Innovative Solutions and Support, Inc., a Pennsylvania corporation (the “Company”), entered into an at-the-market equity offering Sales Agreement (the “ATM Sales Agreement”) with Stifel, Nicolaus & Company, Incorporated (the “Sales Agent”), pursuant to which the Company may offer and sell from time to time through the Sales Agent up to $40 million of shares of its common stock

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INNOVATIVE SOLUTIONS & SUPPORT INC filing history →

Source: SEC EDGAR

accession 0001104659-23-103243

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