By Devika Patel
Knoxville, Tenn., June 23 - Fuel Systems Solutions, Inc. said it arranged a $30 million registered direct offering of stock.
The company will sell 1.5 million common shares at $20.00 apiece.
Settlement is expected June 26.
Needham & Co., LLC is the agent.
Proceeds will be used for general corporate purposes.
Based in Santa Ana, Calif., Fuel Systems designs, manufactures and supplies alternative fuel components and systems for use in the transportation, industrial and power generation industries.
| Issuer: | Fuel Systems Solutions, Inc.
|
| Issue: | Common stock
|
| Amount: | $30 million
|
| Shares: | 1.5 million
|
| Price: | $20.00
|
| Warrants: | No
|
| Agents: | Needham & Co., LLC
|
| Pricing date: | June 23
|
| Settlement date: | June 26
|
| Stock symbol: | Nasdaq: FSYS
|
| Stock price: | $22.41 at close June 22
|
| Market capitalization: | $333 million
|
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