TUALATIN, Oregon, Oct. 19, 2017 /PRNewswire/ -- CUI Global,
Inc. (NASDAQ: CUI) ("CUI Global" or the "Company"), today announced
the pricing of its previously announced underwritten public
offering of 6,428,571 shares of its common stock at a price to the
public of $2.80 per share. In
addition, the Company granted the underwriter a 45-day option to
purchase at the public offering price up to an additional 964,285
shares of common stock to cover over-allotments, if any. All shares
of common stock to be sold in the offering will be offered by CUI
Global.
The offering is expected to close on October 23, 2017, subject to the satisfaction of
customary closing conditions. The total gross proceeds from the
offering are expected to be approximately $18.0 million, assuming no exercise of the
underwriter's over-allotment option. The Company intends to use the
net proceeds from the offering (after deducting the underwriting
discount and other estimated expenses payable by the Company)
primarily for general corporate purposes, which may include
operating expenses, working capital to improve and promote our
commercially available products, advance product candidates, future
acquisitions or share repurchases, expand international presence
and commercialization, general capital expenditures and
satisfaction of debt obligations.
Craig-Hallum Capital Group is acting as the sole managing
underwriter for the offering.
A shelf registration statement on Form S-3 (File No. 333-216672)
relating to the shares of common stock being offered has been
declared effective by the Securities and Exchange Commission
("SEC"). This offering may only be made by means of a prospectus
supplement and the accompanying prospectus. The preliminary
prospectus supplement related to the offering was filed with the
SEC on October 16, 2017. The final
prospectus supplement and accompanying base prospectus will be
filed with the SEC and, when available, may be obtained from the
SEC's website at http://www.sec.gov or from Craig-Hallum Capital
Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, by telephone at
(612) 334-6300 or email at prospectus@chlm.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About CUI Global, Inc.
Delivering Innovative
Technologies for an Interconnected World . . .
CUI
Global, Inc. is a publicly traded company dedicated to maximizing
shareholder value through the acquisition and development of
innovative companies, products and technologies. From Orbital Gas
Systems' advanced GasPT2 platform targeting the energy sector, to
CUI Inc.'s digital power platform serving the networking and
telecom space, CUI Global and its subsidiaries have built a
diversified portfolio of industry leading technologies that touch
many markets. As a publicly traded company, shareholders are able
to participate in the opportunities, revenues, and profits
generated by the products, technologies, and market channels of CUI
Global and its subsidiaries. But most importantly, a commitment to
conduct business with a high level of integrity, respect, and
philanthropic dedication allows the organization to make a
difference in the lives of their customers, employees, investors
and global community.
For more information please visit www.cuiglobal.com
Important Cautions Regarding Forward Looking
Statements
This document contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such statements are subject to risks and
uncertainties that could cause actual results to vary materially
from those projected in the forward-looking statements. The company
may experience significant fluctuations in future operating results
due to a number of economic, competitive, and other factors,
including, among other things, our reliance on third-party
manufacturers and suppliers, government agency budgetary and
political constraints, new or increased competition, changes in
market demand, and the performance or reliability of our products.
These factors and others could cause operating results to vary
significantly from those in prior periods, and those projected in
forward-looking statements. Additional information with respect to
these and other factors, which could materially affect the company
and its operations, are included in certain forms the company has
filed with the SEC.
Media
Contact:
|
Outside IR
Contact
|
CUI Global
Inc.
|
LHA
|
Jeff
Schnabel
|
Sanjay M. Hurry /Jody
Burfening
|
503-612-2300
|
212-838-3777
|
Press@cuiglobal.com
|
cuiglobal@lhai.com
|
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