NV5 Holdings temporarily reduces strike price of its warrants to $6.00

Warrants exercisable for 1.61 million shares; price reduced from $7.80

By Devika Patel

Knoxville, Tenn., Sept. 27 - NV5 Holdings, Inc. temporarily reduced the exercise price of its warrants on Sept. 24, according to an 8-K filed Friday with the Securities and Exchange Commission. The warrants are exercisable for 1.61 million common shares.

The warrant strike price has been reduced to $6.00 per share from $7.80 per share. The reduction will be effective from Sept. 27 through Oct. 11.

After the expiration date, the exercise price of the warrants will automatically revert to the strike price of $7.80 per share.

"By temporarily reducing the exercise price on our warrants, we believe we can raise new capital in a cost-effective and timely manner, improve liquidity and reduce the company's warrant overhang," president and chief executive officer Dickerson Wright said in a press release. "We will use the proceeds to support our operating requirements and our acquisitions strategy."

The Hollywood, Fla., company provides professional and technical engineering and consulting services to public and private sector clients.

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