This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PowerSecure Announces Proposed Public Offering Of Common Stock

PowerSecure International, Inc. (Nasdaq: POWR), a leading provider of utility and energy technologies to electric utilities, and their industrial, institutional and commercial customers, announced today that it intends to offer and sell approximately $44 million in shares of its common stock in an underwritten public offering, including 200,000 shares that Sidney Hinton, its president and chief executive officer, intends to offer and sell shares as a selling stockholder.

The company intends to grant the underwriters a 30-day option to purchase additional shares of common stock at the same price per share to cover any over-allotments. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The company intends to use the net proceeds from the sale of its shares in this offering for general corporate purposes, including but not limited to working capital, capital expenditures, acquisitions, repurchases of outstanding shares and other business opportunities. The company has not determined the amount of net proceeds to be used specifically for the foregoing purposes. Accordingly, the company will have broad discretion in the application of any proceeds from the sale of securities offered in this prospectus supplement. Pending any specific application of the net proceeds from this offering, the company intends to invest such net proceeds in short-term marketable securities. PowerSecure will not receive any proceeds from the sale of the shares of common stock offered by the selling stockholder.

Robert W. Baird & Co. Incorporated is the sole book-running manager for the offering.

The shares are being offered by the company and the selling stockholder pursuant to effective registration statements previously filed with the U.S. Securities and Exchange Commission. The offering by the company may be made only by means of a prospectus and related preliminary prospectus supplement, and the offering by the selling stockholder is being made only by means of a reoffer prospectus and related preliminary reoffer prospectus. Copies of these offering materials may be obtained, by sending a request to: Robert W. Baird & Co. Incorporated, 777 East Wisconsin Avenue, 28th Floor, Milwaukee, Wisconsin 53202-5391, or by calling toll-free 1 (800) 792 2473 or by e-mailing syndicate@rwbaird.com. Electronic copies of the prospectus and related preliminary prospectus supplement and the reoffer prospectus and related preliminary reoffer prospectus are available on the Securities and Exchange Commission’s website at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sales of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,596.35 -350.33 -1.95%
S&P 500 2,057.64 -43.85 -2.09%
NASDAQ 4,958.4680 -122.0370 -2.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs