Pioneer Power Solutions to sell its stock through a public offering

Oppenheimer helps raise funds for acquisitions and corporate purposes

By Devika Patel

Knoxville, Tenn., April 20 - Pioneer Power Solutions, Inc. plans an underwritten public stock offering, according to an S-1 filed Wednesday with the Securities and Exchange Commission.

The shares will be sold by agent Oppenheimer & Co.

Proceeds will be used for new acquisitions, to offer extended purchase terms to future customers and for general corporate purposes, including working capital and debt repayment.

The designer, developer and manufacturer of liquid-filled power, distribution and specialty electric transformers is based in Court Reno, Nev.

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