Cemtrex Announces Pricing of Its Public Offering of Common Stock
August 22 2018 - 08:00AM
Business Wire
Cemtrex, Inc. (NASDAQ: CETX, CETXP, CETXW), a leading technology
and manufacturing company, announced today the pricing of its
previously announced underwritten public offering of 1,000,000
shares of common stock at a public offering price of $1.65 per
share for total gross proceeds of $1,650,000. The net proceeds,
after underwriting discounts and estimated expenses of the offering
payable by Cemtrex, are expected to be approximately $1,482,500.
Cemtrex also granted the underwriter an option for a period of 45
days to purchase up to an additional 15% of the aggregate number of
shares of common stock to be sold in the offering. The offering is
expected to close on or about August 24, 2018, subject to the
satisfaction of customary closing conditions.
Cemtrex intends to use the net proceeds from the offering to
further its development, sales and marketing of the SmartDesk, its
proprietary advanced technology workspace solution, and for general
corporate purposes.
Aegis Capital Corp. is acting as the sole book-running manager
for the offering.
The offering is being made pursuant to a shelf registration
statement on Form S-3 (File No. 333-218501) filed with the U.S.
Securities and Exchange Commission (the “SEC”) on June 4, 2017,
which became effective on June 14, 2017. A preliminary prospectus
supplement and accompanying prospectus relating to and describing
the terms of the offering were filed with the SEC. The final terms
of the offering will be disclosed in a final prospectus supplement
to be filed with the SEC and, when available, may be obtained by
visiting the SEC’s website at www.sec.gov or by contacting Aegis
Capital Corp., 810 Seventh Avenue, 18th Floor, New York, NY 10019,
by telephone at (646) 502-2434 or by email at
prospectus@aegiscap.com.
This press release does not constitute an offer to sell or
solicitation of an offer to buy any securities in the offering. Nor
shall there be any sale of these securities in any state or
jurisdiction in which such offering, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Cemtrex
Cemtrex, Inc. is the manufacturer of the SmartDesk, a highly
advanced workstation. Cemtrex is a diversified technology company
that’s driving innovation in a wide range of sectors, including
smart technology, virtual and augmented realities, advanced
electronic systems, industrial solutions and intelligent security
systems. For more information, visit us at www.cemtrex.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to our new product offerings or
any proposed fundraising activities. These forward-looking
statements are based on management’s current expectations and are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those set forth in or implied by
such forward looking statements. These risks and uncertainties
include, but are not limited to: operational losses and negative
cash flows; any need for additional financing; market acceptance of
our products; our ability to manufacture and develop effective
products and solutions; indebtedness to our lenders; current and
future economic conditions that may adversely affect our business
and customers; potential fluctuation of our revenues and
profitability from period to period which could result in our
failure to meet expectations; our ability to maintain adequate
levels of working capital; our ability to incentivize and retain
our current senior management team and continue to attract and
retain qualified scientific, technical and business personnel; our
ability to expand our product offerings or to develop other new
products and services; our ability to generate sales and profits
from current product offerings; rapid technological changes and new
technologies that could render certain of our products and services
to be obsolete; competitors with significantly greater financial
resources; introduction of new products and services by
competitors; challenges associated with expansion into new markets;
and other factors discussed under the heading “Risk Factors”
contained in our most recent annual report on Form 10-K filed with
the Securities and Exchange Commission. All information in this
press release is as of the date of the release and we undertake no
duty to update this information unless required by federal
securities law.
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version on businesswire.com: https://www.businesswire.com/news/home/20180822005122/en/
Cemtrex, Inc.Investor RelationsSaagar Govil,
631-756-9116investors@cemtrex.com
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