Zoltek Companies, Inc. (NasdaqGM:ZOLT) has announced the pricing of a public offering of 4,000,000 shares of its common stock at $38.76 per share. In the offering, 3,615,000 shares are being offered by the Company and 385,000 shares are being offered by certain selling shareholders. The Company granted the underwriters an overallotment option to purchase up to 600,000 additional shares of common stock.
As previously announced, the proceeds received by the Company from this offering will be used for: continued execution of the Company’s capacity expansion plans; repayment of a $10 million loan extended by the Company’s Chairman and Chief Executive Officer to finance a bond posted in connection with ongoing litigation; working capital to support the anticipated growth in the Company’s business; and other general corporate purposes.
Merrill Lynch & Co. serves as lead manager and sole book-runner for the offering, and RBC Capital Markets and ThinkEquity Partners LLC serve as co-managers.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission.
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