eMagin Finance News 19/05/2017

By Jasmine Kang Sodha
emagin
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eMagin has announced that it has priced an underwritten offering of an aggregate of 3,300,000 shares of common stock, together with warrants to purchase up to 1,650,000 shares of common stock of the company, to a single institutional investor and to Stillwater LLC, an affiliate, at an offering price of $2.00 per share and associated warrant.

The aggregate gross proceeds to the company (assuming no exercise of the warrants) are US$6.6 million, before deducting underwriting discounts and commissions and estimated offering expenses. The company intends to use the net proceeds of the offering for working capital and general corporate purposes.