Flow International (FLOW) Closes Offering of Common Shares, Raising Net Proceeds of $14.9M
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Flow International Corporation (Nasdaq: FLOW) today announced that it has closed the public offering of 7,825,000 of its common shares at $2.10 per share. Net proceeds from the offering are approximately $14.9 million. Flow has granted the underwriter an option to purchase up to an additional 1,173,750 shares of common stock at the public offering price, less the underwriting commission, within 30 days following pricing.
Flow intends to use the net proceeds from the offering for the repayment of debt under its credit facility and for general corporate purposes.
Roth Capital Partners, LLC acted as the sole underwriter for the offering.
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