eMagin has announced that it has priced an underwritten offering of an aggregate of 8,527,918 shares of common stock of the company and warrants to purchase up to 3,411,168 shares of common stock of the company. Each share of common stock is being sold together in a fixed combination with a warrant to purchase four-tenths of one share of common stock at an offering price of $1.35 per share and associated warrant.
The warrants will have an exercise price of $1.55 per share of common stock and a term of five years, exercisable upon the date of issuance. The company has granted the underwriters a 30-day option to purchase up to 1,279,187 additional shares of common stock and/or additional warrants to purchase up to 511,674 shares of common stock at the public offering price, less underwriting discounts and commission, to cover over-allotments, if any. The net proceeds to the compay is $10.6 million.
The offering is expected to close on or about January 29th 2018, subject to satisfaction of customary closing conditions.
