Lakeland Industries (LAKE) Announces Proposed Share Offering

Lakeland Industries, Inc. ("Lakeland Fire + Safety" or "Lakeland") (NASDAQ: LAKE), a leading global manufacturer of protective clothing for industry, healthcare, and first responders, today announced a proposed underwritten public offering of shares of its common stock. Lakeland also expects to grant to the underwriters of the offering a 45-day option to purchase up to an additional 15% of the shares of its common stock in the underwritten public offering on the same terms and conditions. All of the shares of common stock to be sold in the offering are to be sold by Lakeland

Lakeland intends to use the net proceeds from the proposed offering for the repayment of certain indebtedness, and for operations and the growth of its business, including working capital and other general corporate purposes.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when such offering may be completed, or as to the actual size or terms of such offering.

Roth Capital Partners is acting as sole book-running manager.

A shelf registration statement on Form S-3 (File No. 333-280783) relating to the shares was previously filed with the Securities and Exchange Commission (the "SEC") and became effective on July 23, 2024. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectus, when available, may be obtained by contacting: Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, by telephone at (800) 678-9147 or by email at [email protected].

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the shares of common stock, nor will there be any sale of the shares of common stock in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

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