Manufacturing Industry
Photon Dyanmics selling shares to raise capital - The Antenna - Brief Article
Electronic News, Feb 4, 2002
PHOTON DYNAMICS INC.'S PUBLIC OFFERING OF 2.5 MILLION shares of its common stock at $40.14 per share has been approved by the Securities and Exchange Commission, the company said late last week. Photon Dyanmics, which makes electronics test and inspection equipment as well as flat panel display manufacturing equipment, plans to use the proceeds from the sale for working capital, capital expenditures and potential acquisitions. Merrill Lynch & Co., CIBC World Markets Corp., and Needham & Company Inc. are the managing underwriters in the offering. The underwriters have an option to purchase up to an additional 375,000 shares of common stock from the company solely to cover overallotments.
Photo Dynamics has moved into the automated X-ray and optical inspection fields in recent years through acquisitions.
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