Mercury Systems Announces Pricing of Common Stock Offering; Increases Offering Size
January 26 2017 - 6:45PM
Mercury Systems, Inc. (NASDAQ:MRCY) (“Mercury” or the “Company”),
today announced that it priced its previously announced
underwritten public offering at $33.00 per share and increased the
size of the offering to 6,000,000 shares of its common stock. The
offering includes a 30-day option for the underwriters to purchase
up to an additional 900,000 shares of common stock at the same per
share price. The offering is expected to close on February 1, 2017,
subject to customary conditions.
The Company intends to use the net proceeds of the
offering for general corporate purposes, including future
acquisitions, refinancing or repayment of debt, working capital,
share repurchases or capital expenditures.
Citigroup Global Markets Inc., BofA Merrill Lynch
and J.P. Morgan Securities LLC are acting as representatives of the
underwriters for the common stock offering.
This offering is being made pursuant to an
effective shelf registration statement previously filed with the
U.S. Securities and Exchange Commission (“SEC”) on August 15, 2014,
and a preliminary prospectus supplement filed with the SEC on
January 24, 2017, copies of which may be obtained from Citigroup,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or telephone: (800) 831-9146, BofA Merrill
Lynch, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, Attn: Prospectus Department or email:
dg.prospectus_requests@baml.com, or J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or telephone: (866) 803-9204, or through the SEC’s
website at www.sec.gov. A final prospectus supplement
relating to the offering will also be filed with the SEC and, when
available, may be obtained by contacting the parties above. Before
you invest, you should read the prospectus in the registration
statement and other documents Mercury has filed with the SEC for
more complete information about Mercury and the offering.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any securities of
Mercury, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to the registration or qualification under the
securities law jurisdiction.
Mercury Systems – Innovation That Matters™
Mercury Systems (NASDAQ:MRCY) is a leading commercial provider
of secure sensor and mission processing subsystems. Optimized for
customer and mission success, Mercury’s solutions power a wide
variety of critical defense and intelligence programs.
Mercury is pioneering a next-generation defense electronics
business model specifically designed to meet the industry’s current
and emerging technology needs.
Forward-Looking Safe Harbor
Statement
This press release contains certain forward-looking statements,
as that term is defined in the Private Securities Litigation Reform
Act of 1995, including those relating to the transactions described
herein. You can identify these statements by the use of the words
“may,” “will,” “could,” “should,” “would,” “plans,” “expects,”
“anticipates,” “continue,” “estimate,” “project,” “intend,”
“likely,” “forecast,” “probable,” “potential,” and similar
expressions. These forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. Such risks and uncertainties
include, but are not limited to, continued funding of defense
programs, the timing and amounts of such funding, general economic
and business conditions, including unforeseen weakness in the
Company’s markets, effects of continued geopolitical unrest and
regional conflicts, competition, changes in technology and methods
of marketing, delays in completing engineering and manufacturing
programs, changes in customer order patterns, changes in product
mix, continued success in technological advances and delivering
technological innovations, changes in, or in the U.S. Government’s
interpretation of, federal export control or procurement rules and
regulations, market acceptance of the Company's products, shortages
in components, production delays or unanticipated expenses due to
performance quality issues with outsourced components, inability to
fully realize the expected benefits from acquisitions and
restructurings, or delays in realizing such benefits, challenges in
integrating acquired businesses and achieving anticipated
synergies, increases in interest rates, changes to export
regulations, increases in tax rates, changes to generally accepted
accounting principles, difficulties in retaining key employees and
customers, unanticipated costs under fixed-price service and system
integration engagements, and various other factors beyond our
control; and other risks that are described. These risks and
uncertainties also include such additional risk factors as are
discussed in the Company's filings with the U.S. Securities and
Exchange Commission, including its Annual Report on Form 10-K for
the fiscal year ended June 30, 2016. The Company cautions readers
not to place undue reliance upon any such forward-looking
statements, which speak only as of the date made. The Company
undertakes no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such
statement is made.
Contact:
Gerry Haines, CFO
Mercury Systems, Inc.
978-967-1990
Mercury Systems (NASDAQ:MRCY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mercury Systems (NASDAQ:MRCY)
Historical Stock Chart
From Apr 2023 to Apr 2024