inTEST Launches $20 Million At-the-Market Offering Program
11 Maio 2023 - 7:15AM
Business Wire
inTEST Corporation (NYSE American: INTT), a global supplier of
innovative test and process technology solutions for use in
manufacturing and testing in key target markets which include
automotive/EV, defense/aerospace, industrial, life sciences,
security, and semiconductor (“semi”), today announced it has
initiated an at-the-market (“ATM”) equity offering program for the
sale of up to $20 million of the Company’s common stock. Under the
program, the Company may sell shares of its common stock from time
to time directly into the market at prevailing market prices. The
timing and volume of sales related to the program will depend on a
variety of factors.
Common stock will be offered through Lake Street Capital Markets
LLC (“Lake Street”), which is serving as the sales agent, and
Northland Securities, Inc. (“Northland”) will be serving as the
co-agent. Lake Street may sell Common Stock by any lawful method
deemed to be an “at-the-market offering” defined by Rule 415(a)(4)
of the Securities Act of 1933, as amended. Sales may be made at
market prices prevailing at the time of the sale, at prices related
to prevailing market prices or at negotiated prices and, as a
result, sales prices may vary.
About inTEST Corporation inTEST Corporation is a global
supplier of innovative test and process technology solutions for
use in manufacturing and testing in key target markets including
automotive, defense/aerospace, industrial, life sciences, and
security, as well as both the front-end and back-end of the
semiconductor manufacturing industry. Backed by decades of
engineering expertise and a culture of operational excellence,
inTEST solves difficult thermal, mechanical, and electronic
challenges for customers worldwide while generating strong cash
flow and profits. inTEST’s strategy leverages these strengths to
grow organically and with acquisitions through the addition of
innovative technologies, deeper and broader geographic reach, and
market expansion. For more information, visit intest.com.
Forward-Looking Statements This press release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended. These
statements do not convey historical information but relate to
predicted or potential future events and financial results, such as
statements of the Company’s plans, strategies and intentions, or
our future performance or goals, that are based upon management's
current expectations. These forward-looking statements can often be
identified by the use of forward-looking terminology such as
“could,” “expects,” “may,” “will,” “plan,” “potential,”
“anticipates,” “targets,” or similar terminology. These statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
such statements.
Such risks and uncertainties include, but are not limited to,
any mentioned in this press release as well as the Company’s
ability to execute on its 5-Point Strategy, achieve high
single-digit growth in 2023, realize the potential benefits of
acquisitions and successfully integrate any acquired operations,
grow the Company’s presence in its key target and international
markets, manage supply chain challenges, convert backlog to sales
and to ship product in a timely manner; the success of the
Company’s strategy to diversify its markets; the impact of
inflation on the Company’s business and financial condition; ATM
offering and the use of proceeds therefrom; the price of our common
stock at any given time; risks related to the failure to receive
the full amount of gross proceeds from the Company's financing
transactions; indications of a change in the market cycles in the
semi market or other markets served; changes in business conditions
and general economic conditions both domestically and globally
including rising interest rates and fluctuation in foreign currency
exchange rates; changes in the demand for semiconductors; access to
capital and the ability to borrow funds or raise capital to finance
potential acquisitions or for working capital; changes in the rates
and timing of capital expenditures by the Company’s customers; and
other risk factors set forth from time to time in the Company’s
Securities and Exchange Commission filings, including, but not
limited to, the Annual Report on Form 10-K for the year ended
December 31, 2022. Any forward-looking statement made by the
Company in this press release is based only on information
currently available to management and speaks to circumstances only
as of the date on which it is made. The Company undertakes no
obligation to update the information in this press release to
reflect events or circumstances after the date hereof or to reflect
the occurrence of anticipated or unanticipated events, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230510006080/en/
inTEST Corporation Duncan Gilmour Chief Financial Officer
and Treasurer Tel: (856) 505-8999
Investors: Deborah K. Pawlowski Kei Advisors LLC
dpawlowski@keiadvisors.com Tel: (716) 843-3908
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