Pioneer Prices Underwritten Public Offering of Common Stock

FORT LEE, N.J., Sept. 25, 2015, Nasdaq, PPSI, /PRNewswire/ Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ( Pioneer or the Company ), today announced the pricing of an underwritten public offering of 1,125,000 shares of its common stock at a price of $4.00 per share. The Company has also granted to the underwriters a 30-day option to acquire an additional 168,750 shares to cover overallotments in connection with the offering. After deducting the underwriting discount, the Company expects to receive net proceeds of approximately $4,185,000, before expenses, assuming no exercise of the overallotment option. The offering is expected to close on or about September 30, 2015, subject to customary closing conditions. Roth Capital Partners is acting as sole book-running manager for the offering. Monarch Capital Group is acting as co-manager. The Company intends to use the proceeds from this offering to repay a portion of its outstanding borrowings under its revolving credit facilities with Ban


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: