UniPixel Prices 5.35 Million Public Offering Of Common Stock

Uni-Pixel, Inc. UNXL, revealed the pricing of its 5.35 million public offering, which is underwritten, at a price of $1.50 per share. The Company expects to get gross proceeds of$8.03 million, before deducting underwriting discounts and other estimated offering expenses. The company expects the offering to close on June 2 subject to customary closing conditions.

Uni-Pixel said the underwriters were granted a 30-day option to buy a maximum of 802,500 shares of common stock to cover over-allotments, if any. The company said that the net proceeds from the offering of its shares are expected to be approximately $7.46 million.

The offering was conducted following a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement declared effective by the U.S. Securities and Exchange Commission on July 10 last year.

The company said Roth Capital Partners served as the sole book-running manager in this offering while Ladenburg Thalmann & Co. Inc. and The Benchmark Company were acting as co-managers.

Shares of the company dropped 18.3 percent on Friday.