July 23, 2014
/PRNewswire/ -- LiqTech International, Inc. (NYSE MKT: LIQT) ("LiqTech"), a clean technology company that manufactures and markets highly specialized filtration technologies, today announced that it has priced a registered firm commitment underwritten public offering of 6,956,522 shares of its common stock at a price to the public of
. In addition, LiqTech has granted the underwriter a 30-day option to purchase up to 1,043,478 additional shares of common stock to cover over-allotments, if any. The offering is expected to close on or about
July 28, 2014
, subject to satisfaction of closing conditions.
The total gross proceeds of the offering are expected to be approximately
. After deducting the underwriter's discount and other estimated offering expenses payable by LiqTech, the net proceeds are expected to be approximately
. These amounts assume no exercise of the underwriter's over-allotment option. The Company intends to use the net proceeds of the offering to fund a portion of the purchase price for its previously announced acquisition of the operations of Provital Solutions A/S. If the acquisition is not completed, LiqTech intends to use the net proceeds from this offering to pay transaction expenses, and for other general corporate purposes.
Craig-Hallum Capital Group LLC acted as sole managing underwriter for the offering.
A registration statement relating to shares of the common stock of LiqTech has been declared effective by the Securities and Exchange Commission (SEC) on
July 7, 2014
. This offering is being made by LiqTech solely by means of a written prospectus, including a prospectus supplement, forming part of the effective registration statement. Copies of the final prospectus supplement and accompanying base prospectus for the offering may be obtained from Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350,
55402, phone number (612) 334-6300.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale 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 state or jurisdiction.