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Superior Drilling Products (SDPI) Prices 5M Share Offering at $1/Share

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Superior Drilling Products, Inc. Announces Pricing of Follow-on Equity Offering

September 30, 2016 8:28 AM EDT

VERNAL, Utah, Sept. 30, 2016 (GLOBE NEWSWIRE) -- Superior Drilling Products, Inc. (NYSE MKT: SDPI) (SDP or the Company), a designer and manufacturer of drilling tool technologies, announced today the pricing of its underwritten registered offering of 5,000,000 shares of common stock at a price to the public of $1.00 per share.  The Company has granted the underwriters a 30-day option to purchase, at the offering price, up to an additional 750,000 shares of common stock.  The offering is expected to close on or about October 5, 2016, subject to satisfaction of customary closing conditions.   

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