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CPI Aero Announces Pricing Of Common Stock Offering

Stocks in this article: CVU

CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE MKT: CVU) today announced the pricing of its previously announced underwritten public offering of 1,305,000 shares of its common stock at a price to the public of $12.00 per share. CPI Aero is offering 1,000,000 shares and selling stockholders are offering 305,000 shares of common stock. In addition, CPI Aero has granted the underwriters a 30-day option to purchase up to 195,750 additional shares of its common stock to cover overallotments, if any.

Net proceeds from the sale by CPI Aero of the shares after underwriting discounts and commissions and other offering expenses are expected to be approximately $11.2 million. The company plans to use the net proceeds from the offering for working capital and other general corporate purposes and to pay down a portion of its revolving credit facility. The offering is subject to customary closing conditions and is expected to close on June 13, 2012.

Roth Capital Partners is acting as the sole bookrunning manager of the offering. EarlyBirdCapital, Inc. and Noble Financial Capital Markets are acting as co-managers.

The offering is being made pursuant to an effective shelf registration statement (File No. 333-181056) declared effective by the Securities and Exchange Commission on May 11, 2012. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the Securities and Exchange Commission at http://www.sec.gov, or from Roth Capital Partners at 888 San Clemente Drive, Newport Beach, CA 92660, by calling (800) 678-9147 or by email: rothecm@roth.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the shares of common stock. Neither CPI Aero nor the selling stockholders will sell any of the shares of common stock and has been advised by the underwriters that neither they nor their affiliates will sell any of the shares of common stock in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

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