TechPrecision raises $2.3M via private placement; reports preliminary Q4 results; delays FY2024 10-K filing

TECHPRECISION CORP

Private placement of 666,100 shares and warrants at $3.45/unit; gross proceeds ~$2.3M; closed July 8, 2024.
Warrants exercisable at $4.00/share, 5-year term, exercisable beginning 6 months after issuance.
Preliminary Q4 FY2024: Ranor net sales $4.53M (net income $246k); STADCO net sales $5.02M (net income $379k).
Corporate costs ~$400k recurring + $1.0M one-time expenses from terminated Votaw acquisition.
Filed NT 10-K for 15-day extension to file annual report due to STADCO financial reporting integration issues.

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