Overview

• The company priced 15,625,000 new shares at $9.60 each for expected gross proceeds of about $150 million.
• Closing is slated for September 19, subject to customary conditions, following an SEC‑effective shelf registration.
• Underwriters received a 30‑day option to buy up to 2,343,750 additional shares at the offering price, excluding discounts.
• Northland Capital Markets is the sole bookrunner and Ladenburg Thalmann is the co‑manager on the deal.
• Shares fell roughly 9% to 11% after the announcement and pricing, according to market reporting.