NAPCO Security Technologies Announces Pricing of Secondary Offering
Secondary Offering Details
NAPCO Security Technologies, Inc. (NASDAQ: NSSC), a leader in electronic security devices and school safety solutions, has set the price for its secondary public offering of 2 million shares at $40.75 per share.
Key Points of the Offering
The offering involves existing shares being sold by Richard L. Soloway, the company’s Chairman and CEO. Additionally, there is an option for underwriters to purchase up to an additional 300,000 shares within 30 days.
Closing Date and Participants
The transaction is expected to close on March 8, 2024, subject to standard closing conditions. NAPCO Security Technologies will not receive any proceeds from this offering. Needham & Company and TD Cowen are serving as joint book-running managers, with D.A. Davidson & Co. acting as the lead manager for the offering.
Market Recognition and Future Growth
NAPCO Security Technologies continues to receive accolades for its innovative security products used across various sectors. The company’s strong reputation in the security market positions it for significant growth in the future.
Legal Disclaimer
The announcement emphasizes that this press release does not constitute an offer to sell or a solicitation to buy securities where prohibited by law. It also highlights the importance of complying with securities laws in relevant jurisdictions.
Industry Standing and Projection
NAPCO Security Technologies stands out for its cutting-edge security solutions, catering to diverse needs from residential to governmental settings. The company’s unwavering commitment to excellence is expected to drive substantial growth in the security sector.
