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For more information please contact:
Investment Banking
Paul Zaffaroni
Managing Director
(949)
720-7174
pzaffaroni@roth.com
Jacob Frank
Vice President
(949)
720-7135
jfrank@roth.com
Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com |
Transaction Information
Lakeland Industries, Inc. (NASDAQ: LAKE), a leading global manufacturer of protective clothing for industry, healthcare and to first responders on the federal, state and local levels, has closed an underwritten public offering of 725,000 shares of its common stock at a price of $13.80 per share. Lakeland Industries, Inc. has also granted to the underwriters a 45-day option to purchase an additional 15% of the shares of common stock sold in this offering to cover over-allotments. The resulting gross proceeds for Lakeland Industries, Inc.
were approximately $10 Million.
Lakeland Industries, Inc. expects to use the net proceeds from the offering for building additional overseas manufacturing facilities, payment of capital expenditures associated with equipment, repayment of all borrowings under its line of credit, and general corporate purposes.
ROTH Capital Partners acted as joint book-running manager for the offering.
About Lakeland Industries, Inc.
Lakeland Industries, Inc. (NASDAQ: LAKE) manufactures and sells a comprehensive line of safety garments and accessories for the industrial protective clothing market. The Company's products are sold by a direct sales force and through independent sales representatives to a network of over 1,200 safety and mill supply distributors. These distributors in turn supply end user industrial customers such as chemical/petrochemical, automobile, steel, glass, construction, smelting, janitorial, pharmaceutical and high technology electronics manufacturers, as well as hospitals and laboratories. In addition, Lakeland supplies federal, state, and local government agencies, fire and police departments, airport crash rescue units, the Department of Defense, the Centers for Disease Control and Prevention, and many other federal and state agencies. For more information, please visit
http://www.lakeland.com.
(Source: Company Press Release | 8/17/17)
About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit
www.roth.com. |
