Astronics Corporation Initiates $30.0 Million At-The-Market Program
08 Agosto 2023 - 5:39PM
Business Wire
Astronics Corporation (Nasdaq: ATRO), a leading provider of
advanced technologies for global aerospace, defense, and other
mission critical industries, today announced it has initiated an
at-the-market (“ATM”) equity offering program for the sale from
time to time of shares of the Company’s common stock (the “Common
Stock”) having an aggregate sales price of up to $30.0 million. The
timing and volume of any sales of shares of Common Stock under the
ATM program will depend on a variety of factors to be determined by
the Company. Shares of Common Stock under the ATM program will be
offered through Wells Fargo Securities, LLC (“Wells Fargo”) and
HSBC Securities (USA) Inc. (“HSBC”), as sales agents. Wells Fargo
and HSBC may sell shares of 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, including without
limitation sales made directly on the Nasdaq Global Select Market,
on any other existing trading market for the shares of Common
Stock, to or through a market maker or in negotiated transactions.
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.
The prospectus supplement filed today adds to, updates or
otherwise changes information contained in the existing prospectus
contained in a shelf registration statement on Form S-3 (File No.
333-272423), which was declared effective by the Securities and
Exchange Commission (the “SEC”) on June 20, 2023. Prospective
investors should read the prospectus, the prospectus supplement and
other documents the Company has filed with the SEC (some of which
are incorporated by reference into the prospectus and prospectus
supplement) for more complete information about the Company and the
ATM program, including the risks associated with investing in the
Company. Copies of the prospectus supplement and related prospectus
may be obtained from Wells Fargo Securities LLC, 500 West 33rd
Street, New York, New York 10001, Attention: Equity Syndicate
Department (fax no: (212) 214-5918) and from HSBC Securities (USA)
Inc., (ny.equity.syndicate@us.hsbc.com). Investors may also obtain
copies of the prospectus supplement and accompanying prospectus
relating to the ATM offering without charge by visiting the SEC’s
website at www.sec.gov.
This press release is for informational purposes only and is not
an offer to sell or the solicitation of an offer to buy any shares
of Common Stock of the Company, which is made only by means of a
prospectus supplement and related prospectus. There will be no sale
of shares of Common Stock in any jurisdiction in which the offer,
solicitation of an offer to buy or sale would be unlawful.
About Astronics Corporation Astronics Corporation
(Nasdaq: ATRO) serves the world’s aerospace, defense, and other
mission critical industries with proven, innovative technology
solutions. Astronics works side-by-side with customers, integrating
its array of power, connectivity, lighting, structures, interiors,
and test technologies to solve complex challenges. For over 50
years, Astronics has delivered creative, customer-focused solutions
with exceptional responsiveness. Today, global airframe
manufacturers, airlines, militaries, completion centers and Fortune
500 companies rely on the collaborative spirit and innovation of
Astronics. The Company’s strategy is to increase its value by
developing technologies and capabilities that provide innovative
solutions to its targeted markets.
Forward Looking Statements This news release 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, and such statements
are subject to the safe harbor created by those sections and the
Private Securities Litigation Reform Act of 1995, as amended. One
can identify these forward-looking statements by the use of the
words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or
other similar expressions and includes all statements regarding the
aggregate sales price of shares of Common Stock to be sold under
the ATM program, the prices of any shares of Common Stock to be
sold under the ATM program and the timing of any sales under the
ATM program. Because such statements apply to future events, they
are subject to risks and uncertainties that could cause actual
results to differ materially from those contemplated by the
statements. Important factors that could cause actual results to
differ materially from what may be stated here include the
continued impact of supply chain constraints, trend in growth with
passenger power and connectivity on airplanes, the state of the
aerospace and defense industries, the market acceptance of newly
developed products, internal production capabilities, the timing of
orders received, the status of customer certification processes and
delivery schedules, the demand for and market acceptance of new or
existing aircraft which contain the Company’s products, the need
for new and advanced test and simulation equipment, customer
preferences and relationships, and other factors which are
described in filings by the Company with the SEC. Except as
required by applicable law, the Company assumes no obligation to
update forward-looking information in this news release whether to
reflect changed assumptions, the occurrence of unanticipated events
or changes in future operating results, financial conditions or
prospects, or otherwise.
For more information on Astronics and its solutions, visit
Astronics.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230808042960/en/
Company Contact: David C. Burney Executive Vice President
and CFO invest@astronics.com +1.716.805.1599
Investor Contact: Kei Advisors LLC Deborah K. Pawlowski,
Investor Relations dpawlowski@keiadvisors.com +1.716.843.3908
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