On Track Innovations priced the 6.25 million ordinary shares in the public offering at $1.60 a share. The company granted the underwriter of the offering a 30-day option to by 937,500 ordinary shares to cover any over-allotments.
The company said it expects to receive net proceeds of about $9.1 million from the public offering. The offering is expected to close on or about Nov. 26, 2014.
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TheStreet Ratings team rates ON TRACK INNOVATIONS as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ON TRACK INNOVATIONS (OTIV) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: