NAPCO Security Technologies Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares from Selling Stockholder

AMITYVILLE, N.Y., Dec. 18, 2020 /PRNewswire/ —┬áNAPCO Security Technologies, Inc. (NASDAQ: NSSC) (“NAPCO”), one of the world’s leading manufacturers and service providers of high-tech electronic security devices as well as a leading provider of school security and safety solutions, announced today that the underwriters of the previously announced underwritten secondary public offering by NAPCO’s Chairman of the Board, President and Chief Executive Officer, Richard L. Soloway (the “Selling Stockholder”), have exercised in full the Underwriters’ option to purchase an additional 334,961 shares of common stock of NAPCO from the Selling Stockholder. The initial closing of the secondary public offering occurred on December 15, 2020, in which the Selling Stockholder sold 2,233,071 shares at a public offering price of $26.00 per share. It is expected that the sale of the Underwriters option shares will close on December 21, 2021, subject to…

Source link

Comments are closed, but trackbacks and pingbacks are open.