Transcat prices $70M public offering of 736,845 shares at $95.00 per share

TRANSCAT INC

Offering of 736,845 shares (plus 30-day underwriter option for 110,526 more) priced at $95/share.
Expected net proceeds of ~$65.2M after underwriting discounts and expenses.
Proceeds to repay M&T Bank credit facility, fund working capital, and general corporate purposes.
Oppenheimer & Co. sole book-runner; Craig-Hallum lead manager; Northland and Roth co-managers.
Offering expected to close on or about September 25, 2023, subject to customary conditions.

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

TRANSCAT INC entered into Underwriting Agreement with Oppenheimer & Co. Inc., as representative of the several underwriters named in Schedule I thereto valued at public offering price of $95.00 per share, net proceeds to the Company expected to be approximately (effective 2023-09-21).

Action: entry
Agreement: underwriting
Counterparty: Oppenheimer & Co. Inc., as representative of the several underwriters named in Schedule I thereto
Value: public offering price of $95.00 per share, net proceeds to the Company expected to be approximately
Effective: 2023-09-21

Exact text from the filing

On September 21, 2023, Transcat, Inc. (the "Company" or "Transcat") entered into an underwriting agreement (the "Underwriting Agreement") with Oppenheimer & Co. Inc. , as representative of the several underwriters named in Schedule I thereto (the "Underwriters"), in connection with the offer and sale of 736,845 shares of the Company’s common stock

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Source: SEC EDGAR

accession 0001206774-23-001147

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