ARDEN HILLS, Minn.--(BUSINESS WIRE)--
IntriCon Corporation (NASDAQ: IIN) (the "Company") announced today that
it has commenced an underwritten public offering of 700,000 shares of
its common stock. All of the shares in the proposed offering are to be
sold by the Company.
Dougherty & Company LLC is the sole underwriter of the offering. The
Company expects to grant the underwriter a 30-day option to purchase up
to an additional 105,000 shares of its common stock. The offering is
subject to market and other conditions, and there can be no assurance as
to whether or when the offering may be completed, or as to the actual
size or terms of the offering.
The Company intends to use the net proceeds from the offering for
working capital and general corporate purposes.
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above was filed with
the Securities and Exchange Commission (the "SEC") and is effective. A
preliminary prospectus supplement relating to the offering has been
filed with the SEC. Copies of the preliminary prospectus supplement and
accompanying base prospectus may be obtained at the SEC's website at www.sec.gov
or from Dougherty & Company LLC, Attention: Joseph Sullivan, Corporate
Finance and Investment Banking, 90 South 7th Street, Suite 4300,
Minneapolis, MN 55402, or toll free at (800) 328-4000.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the shares described herein or any other
securities, nor shall there be any sale of these shares in any state or
other jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of such state or other jurisdiction. The offering may be made only
by means of a prospectus supplement and the accompanying base prospectus.
About IntriCon Corporation
Headquartered in Arden Hills, Minn., IntriCon Corporation designs,
develops and manufactures miniature and micro-miniature body-worn
devices. These advanced products help medical, healthcare and
professional communications companies meet the rising demand for
smaller, more intelligent and better connected devices. IntriCon has
facilities in the United States, Asia, United Kingdom and Europe. The
company's common stock trades under the symbol "IIN" on the NASDAQ
Global Market. For more information about IntriCon, visit www.intricon.com.
Statements made in this release and in IntriCon's other public filings
and releases that are not historical facts or that include
forward-looking terminology are "forward-looking statements" within the
meaning of the Securities Exchange Act of 1934, as amended. These
forward-looking statements may be affected by known and unknown risks,
uncertainties and other factors that are beyond IntriCon's control, and
may cause IntriCon's actual results, performance or achievements to
differ materially from the results, performance and achievements
expressed or implied in the forward-looking statements. These risks,
uncertainties and other factors are detailed from time to time in the
company's filings with the Securities and Exchange Commission, including
the Annual Report on Form 10-K for the year ended December 31, 2015. The
company disclaims any intent or obligation to publicly update or revise
any forward-looking statements, regardless of whether new information
becomes available, future developments occur or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160512006628/en/
Scott Longval, CFO, 651-604-9526
Matt Sullivan, 612-455-1709
Source: IntriCon Corporation
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