News Article
Laser innovator IPG to offer up to 3 million shares
The offering will consist of 2,800,000 shares to be sold by the Company and up to 200,000 shares to be sold by the Company's chairman and CEO, Valentin P. Gapontsev
IPG Photonics Corporation has commenced a public offering of up to 3,000,000 shares of its common stock.
The Company intends to grant to the underwriters a 30-day option to purchase up to an additional 450,000 shares of the Company's common stock.
The Company plans to use the net proceeds of the offering for general corporate purposes and to fund capital expenditures and working capital requirements. The Company may also use some of the net proceeds for acquisitions of complementary businesses and technologies, although no such acquisitions are currently pending.
BofA Merrill Lynch will be the sole book-running manager for this offering and Needham & Company, LLC and Stifel Nicolaus Weisel will act as co-managers.
An automatic shelf registration statement relating to the securities to be offered in this offering was filed with the Securities and Exchange Commission (the "SEC") on February 27, 2012. The offering of these securities will be made pursuant to a prospectus supplement to the prospectus contained in the shelf registration statement, which prospectus supplement will be filed with the SEC.
The prospectus and prospectus supplement will be available at no charge on the SEC's Web site at www.sec.gov. When available, copies of the prospectus and prospectus supplement also may be obtained from BofA Merrill Lynch, 4 World Financial Centre, New York, NY 10080, Attention: Prospectus Department, or by emailing a request to dg.prospectus_requests@baml.com.
