LGL Announces Warrants Exercises and Expiration
Aug. 08, 2018
ORLANDO, Fla.--(BUSINESS WIRE)--Aug 8, 2018--The LGL Group, Inc. (NYSE American: LGL) (the “Company”) a globally diversified holding company with a history of operations dating back to 1914, today announced the results from exercises of its warrants. The exercise period for the warrants expired at 5:00 p.m. ET on August 6, 2018.
The Company raised total gross proceeds of approximately $926,948 and issued 123,593 shares as a result of exercises of its warrants at a price of $7.50 per share. Following exercises and subsequent expiration of the warrants, the Company expects to have a total of 4,821,986 shares of its common stock outstanding.
About The LGL Group, Inc.
The LGL Group, Inc., through its two principal subsidiaries MtronPTI and PTF, designs, manufactures and markets highly-engineered electronic components used to control the frequency or timing of signals in electronic circuits, and designs high performance frequency and time reference standards that form the basis for timing and synchronization in various applications.
Headquartered in Orlando, Florida, the Company has additional design and manufacturing facilities in Yankton, South Dakota, Wakefield, Massachusetts and Noida, India, with local sales offices in Hong Kong, Sacramento, California and Austin, Texas.
For more information on the Company and its products and services, contact James Tivy at The LGL Group, Inc., 2525 Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit www.lglgroup.com and www.mtronpti.com.
Caution Concerning Forward Looking Statements
This press release may contain forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. These forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to us and our current plans or expectations, and are subject to a number of uncertainties and risks that could significantly affect current plans, anticipated actions and our future financial condition and results. Certain of these risks and uncertainties are described in greater detail in our filings with the Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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CONTACT: The LGL Group, Inc.
James Tivy, 407-298-2000
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS ELECTRONIC DESIGN AUTOMATION HARDWARE MANUFACTURING ENGINEERING
SOURCE: The LGL Group, Inc.
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PUB: 08/08/2018 06:10 PM/DISC: 08/08/2018 06:11 PM