Harris & Harris (TINY) Closes Follow-On Offering of 4.89M Shares
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Harris & Harris Group, Inc., (Nasdaq: TINY) today announced the closing of its previously announced public follow-on offering of 4,887,500 shares of common stock at a price of $4.75 per share to the public. The aggregate number of shares of common stock sold reflects the exercise in full by the underwriter of its over-allotment option to purchase 637,500 additional shares of common stock. The net proceeds to the Company after deducting underwriting discounts and estimated offering expenses are expected to be approximately $21,495,188. Needham & Company, LLC acted as sole book running manager in connection with the offering.
Harris & Harris Group, Inc. intends to use the net proceeds of the offering to make new venture capital investments in nanotechnology and microsystems as well as follow-on investments in our existing portfolio companies, and for operating expenses.
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