LGL Group announces rights offering to fund defense technology strategy

The LGL Group Inc. (NYSE American: LGL) announced a subscription rights offering to raise capital for defense technology and resilient infrastructure initiatives.

The company's board approved distributing transferable subscription rights to existing stockholders, with each stockholder receiving one right per share owned as of the record date. Each right allows the holder to purchase one share of common stock at a subscription price yet to be determined.

The subscription price will equal the greater of either a 1% to 5% discount to the 30-day volume-weighted average price ending on the pricing date, or $6.81, which represents the company's book value per share as of March 31, 2026. The rights will be transferable on the NYSE American exchange.

Stockholders who exercise their full basic subscription rights may also participate in an over-subscription privilege for any remaining unsubscribed shares, subject to limitations. If total subscriptions exceed the offering amount, over-subscriptions will be allocated proportionally based on the number of shares each holder requested.

LGL Group plans to file a Form S-1 registration statement with the Securities and Exchange Commission to register the securities. The rights offering will commence after the registration statement becomes effective.

"We intend to use the capital raised in the rights offering to support our efforts to continue to increase earnings and stockholder return while preserving a pro rata participation opportunity for all stockholders," said Chief Executive Officer Jason D. Lamb. He noted the proceeds may advance defense technology and resilient infrastructure initiatives, including precision timing and frequency technologies.

The company will announce additional details when it files the prospectus with regulators.

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