Sharps Compliance (SMED) Announces 3.22M Common Share Offering; Shareholders to Sell 2.72M Shares
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Sharps Compliance Corp. (NASDAQ: SMED) announced today that is has filed a registration statement on Form S-3 with the Securities and Exchange Commission relating to the public offering of 3,220,000 shares of its common stock, of which 500,000 shares will be sold by the Company and 2,720,000 shares will be sold by certain of its stockholders. The Company and the selling stockholders also intend to grant the underwriters a 30-day option to purchase up to an additional 77,146 and 405,854 shares of common stock, respectively, to cover over-allotments, if any.
The net proceeds from the shares sold by the Company will be used for general working capital purposes. The Company will not receive any proceeds from the sale of shares by the selling stockholders.
William Blair & Company is acting as the sole book running manager and Barrington Research Associates, Inc. is acting as co-manager for the offering.
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