Applied Films to sell 3 mln shares
Thursday September 11, 5:39 pm ET
WASHINGTON, Sept 11 (Reuters) - Applied Films Corp. (NasdaqNM:AFCO - News), which makes products used in liquid crystal displays, filed on Thursday with the Securities and Exchange Commission (News - Websites) to sell 3 million common shares.
The net proceeds will be used for working capital and other general corporate purposes.
The Longmont, Colorado-based company said it may also use a portion of the proceeds to acquire complementary businesses, products or technologies. "However, we currently have no commitments, agreements, or understandings to complete any such transactions," it said in the filing.
The stock sale will be handled by Citigroup, CIBC World Markets, Needham & Co. and Adams Harkness & Hill. The underwriters have an option to buy an extra 450,000 shares to cover any over-allotments.
Applied Films will have 14.2 million shares outstanding when the offering is completed.
Its stock dropped 16 cents, or 0.55 percent, to close at $28.84 on the Nasdaq. |
