Applied Film Higher After Pricing 3.8 Million Shares

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Applied Films

(AFCO)

was gaining after the company priced a 3.8 million share offering at $20 each.

Shares of the Longmont, Colo., coatings maker were recently gaining 70 cents to $20.92.

The offering was increased by 500,000 shares and raised net proceeds of $56.5 million, which the company will use to reduce debt, repurchase preferred stock and for a recent acquisition. Three million shares were sold by the company, the rest by shareholders.