ARDEN HILLS, Minn.--(BUSINESS WIRE)--
IntriCon Corporation (NASDAQ:IIN), a designer, developer,
manufacturer and distributor of miniature and micro-miniature body-worn
devices, today announced that it has priced a public offering of 700,000
shares of its common stock at a public offering price of $5.25 per
share. All of the shares are being sold by the company. The offering is
expected to close on May 18, 2016, subject to customary closing
conditions. Dougherty & Company LLC is serving as the sole underwriter
for the offering. The Company has granted the underwriter a 30-day
option to purchase up to an additional 105,000 shares of common stock.
IntriCon expects net proceeds of approximately $3.118 million, after
deducting underwriting discounts and estimated offering expenses
(without giving effect to any exercise of the underwriters' option to
purchase additional shares). The company intends to use these net
proceeds for working capital and general corporate purposes.
The shares will be issued pursuant to a shelf registration statement on
Form S-3 previously filed with and declared effective by the Securities
and Exchange Commission (the "SEC") and a final prospectus supplement
relating to the offering. Copies of the final prospectus supplement,
when available, and the 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.
Forward-Looking Statements
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/20160513005440/en/
At IntriCon:
Scott Longval, 651-604-9526
CFO
slongval@intricon.com
or
At
PadillaCRT:
Matt Sullivan, 612-455-1709
matt.sullivan@padillacrt.com
Source: IntriCon Corporation
News Provided by Acquire Media
