Transcat (TRNS) Prices 737K Share Offering at $95/sh

September 21, 2023 8:01 AM EDT

Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration services, enterprise asset management services, and value-added distributor of professional grade handheld test, measurement and control instrumentation, today announced that it has priced its underwritten public offering of 736,845 shares of its common stock at a public offering price of $95.00 per share. Transcat expects the net proceeds from this offering to be approximately $65.2 million, after deducting underwriting discounts and commissions and estimated offering expenses. Transcat intends to use the net proceeds from this offering to repay its credit facility with Manufacturers and Traders Trust Company, for working capital, and for other general corporate purposes. Transcat has granted the underwriters a 30-day option to purchase up to 110,526 additional shares of its common stock. Transcat expects the offering to close on or about September 25, 2023, subject to the satisfaction of customary closing conditions.

Oppenheimer & Co. is acting as sole book-running manager for the offering, Craig-Hallum is acting as lead manager for the offering, and Northland Capital Markets and Roth Capital Partners are acting as co-managers for the offering.

The shares of common stock described above are being offered by the Company pursuant to a shelf registration statement (File No. 333-250135) previously filed with and subsequently declared effective by the Securities and Exchange Commission (the “SEC”), and a related registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended. A preliminary prospectus supplement relating to the offering has been filed with the SEC and a final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and the accompanying base prospectus relating to this offering may be obtained, when filed with the SEC, by accessing the SEC's website at Copies of the final prospectus supplement and the accompanying base prospectus relating to this offering, when available, may also be obtained from: Oppenheimer & Co. Inc., 85 Broad Street, 26th Floor, New York, New York 10004, Attn: Syndicate Prospectus Department, or by telephone at (212) 667-8055, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there by any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

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