QualityStocksNewsBreaks – Cemtrex Inc. (NASDAQ: CETX) Closes on Upsized Underwritten Public Offering Worth $10M
Cemtrex (NASDAQ: CETX), an advanced-security technology and industrial services company, has closed on a firm-commitment underwritten public offering. According to the announcement, the company will receive an estimated $10 million in gross proceeds from the offering, before standard deductions and expenses. Upsized from an original $9 million commitment, the base offering consisted of 11,764,705 common units or prefunded units; the purchase price of each common unit was $0.85, and the purchase price of each prefunded unit was $0.849. Cemtrex anticipates using the net proceeds from the offering for operations as well as to increase marketing efforts and invest in existing…
