Transcat, Inc. Announces Proposed Public Offering of Common Stock
20 Settembre 2023 - 10:01PM
Business Wire
Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a
leading provider of accredited calibration services, enterprise
asset management services, and value-added distributor of
professional grade handheld test, measurement and control
instrumentation, today announced that it intends to offer and sell,
subject to market conditions, shares of its common stock in an
underwritten public offering. All of the shares of common stock are
being offered by Transcat. Transcat also expects to grant the
underwriters a 30-day option to purchase additional shares of
common stock offered in the public offering. The offering is
subject to market 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. Transcat intends to use the net
proceeds from the proposed offering to repay its credit facility
with Manufacturers and Traders Trust Company, for working capital,
and for other general corporate purposes.
Oppenheimer & Co. is acting as sole book-running manager for
the offering.
The shares of common stock described above are being offered by
the Company pursuant to a shelf registration statement (File No.
333-250135) previously filed with and subsequently declared
effective by the Securities and Exchange Commission (the “SEC”). A
preliminary prospectus supplement relating to the offering will be
filed with the SEC. Copies of the preliminary prospectus supplement
and the accompanying base prospectus relating to this offering may
be obtained, when filed with the SEC, by accessing the SEC's
website at www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying base prospectus relating to this
offering, when available, may also be obtained from: Oppenheimer
& Co. Inc., 85 Broad Street, 26th Floor, New York, New York
10004, Attn: Syndicate Prospectus Department, or by telephone at
(212) 667-8055, or by email at EquityProspectus@opco.com. The final
terms of the offering will be disclosed in a final prospectus
supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
by any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or jurisdiction.
ABOUT TRANSCAT, INC.
Transcat, Inc. is a leading provider of accredited calibration,
reliability, maintenance optimization, quality and compliance,
validation, Computerized Maintenance Management System (CMMS), and
pipette services. The Company is focused on providing best-in-class
services and products to highly regulated industries, particularly
the Life Science industry, which includes pharmaceutical,
biotechnology, medical device, and other FDA-regulated businesses,
as well as aerospace and defense, and energy and utilities.
Transcat provides periodic on-site services, mobile calibration
services, pickup and delivery, in-house services at its 28
Calibration Service Centers strategically located across the United
States, Puerto Rico, Canada, and Ireland. In addition, Transcat
operates calibration labs in 21 imbedded customer-site locations.
The breadth and depth of measurement parameters addressed by
Transcat’s ISO/IEC 17025 scopes of accreditation are believed to be
the best in the industry.
Transcat also operates as a leading value-added distributor that
markets, sells and rents new and used national and proprietary
brand instruments to customers primarily in North America. The
Company believes its combined Service and Distribution segment
offerings, experience, technical expertise, and integrity create a
unique and compelling value proposition for its customers.
Transcat’s strategy is to leverage its strong brand and unique
value proposition that includes its comprehensive instrument
service capabilities, enterprise asset management, and leading
distribution platform to drive organic sales growth. The Company
will also look to expand its addressable calibration market through
acquisitions and capability investments to further realize the
inherent leverage of its business model. More information about
Transcat can be found at: www.transcat.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are not statements of historical
fact and thus are subject to risks, uncertainties and assumptions.
Forward-looking statements are identified by words such as
“intend,” “may,” “subject,” and other similar words. All statements
addressing events or developments that Transcat expects or
anticipates will occur in the future, including but not limited to
statements relating to the offering and statements relating to the
Company’s intended use of the net proceeds from the offering, are
forward-looking statements. Forward-looking statements should be
evaluated in light of important risk factors and uncertainties.
These risk factors and uncertainties include changes as a result of
market conditions or for other reasons, the risk that the offering
will not be consummated, the impact of general economic, health,
industrial or political conditions in the United States or
internationally, and other risks and uncertainties described in
Transcat’s Annual Report, Quarterly Reports, and other documents
filed with the SEC. Should one or more of these risks or
uncertainties materialize, or should any of the Company’s
underlying assumptions prove incorrect, actual results may vary
materially from those currently anticipated. In addition, undue
reliance should not be placed on the Company’s forward-looking
statements, which speak only as of the date they are made. Except
as required by law, the Company disclaims any obligation to update,
correct or publicly announce any revisions to any of the
forward-looking statements contained in this press release, whether
as the result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230920852492/en/
For more information: Tom Barbato Phone: (585) 505-6530
Email: thomas.barbato@transcat.com
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