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Uni-Pixel to Float Common Stock Issue

By Eric Volkman - Apr 18, 2013 at 6:11PM

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The company goes to the capital markets to drum up several tens of millions of dollars in capital.

Uni-Pixel (UNXL) is hoping to raise nearly $36 million from the capital markets. The company is to float a new common stock issue "on or about" April 23, to the tune of 1.195 million shares, in an underwritten public offering. The price is to be $32.00 per share, which amounts to a total of $35.8 million after expenses. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 179,250 shares.

Uni-Pixel said it plans to use the proceeds of the issue "for working capital and general corporate purposes." The company added that this might include capital expenses and investment in securities.

Cowen Group's Cowen and Company, and Craig-Hallum Capital Group are the joint book-running managers of the issue.

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