CPI Aerostructures (CVU) Announces Offering of Common Shares

CPI Aerostructures, Inc. (NYSE: CVU) announced that CPI Aero and selling stockholders intend to offer shares of common stock in an underwritten public offering. CPI Aero also expects to grant to the underwriters a 30-day option to purchase additional shares of common stock to cover overallotments, if any. CPI Aero intends to use the net proceeds from this offering to fund working capital, other general corporate purposes and to pay down a portion of its revolving credit facility.

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