IRVINE, Calif., Sept. 18, 2018 (GLOBE NEWSWIRE) -- Lantronix, Inc. (the "Company") (NASDAQ:LTRX), a global provider of secure data access and management solutions for the industrial Internet of Things (IoT), today announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock at a price to the public of $4.00 per share, for gross proceeds of $10 million. The Company has also granted to the underwriters a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 375,000 shares.

Needham & Company and Lake Street Capital Markets are acting as joint book-running managers for the offering. The shares are being offered by Lantronix pursuant to an effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission (SEC) on August 31, 2018. Copies of the prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by contacting the following: Needham & Company, Attention: Syndicate Prospectus Department, 250 Park Avenue, 10th Floor, New York, New York 10177, or by telephone at (800)-903-3268, or by email at [email protected] or Lake Street Capital Markets, LLC, Attention: Syndicate Department, 920 Second Ave South, Suite 700, Minneapolis, MN 55402, or by telephone at (612) 326-1305 or by email at [email protected].

This press release contains forward-looking statements regarding the expected closing of the public offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. Forward-looking statements are made as of the date of this document and are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including market conditions, risks associated with the cash requirements of our business and other risks detailed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.

Lantronix Media, Analyst, and Investor Contact:          
Shahram Mehraban
VP, Marketing
[email protected]
[email protected]
949-453-7175