Astronics Corporation Announces Filing of Universal Shelf Registration Statement
06 June 2023 - 6:20AM
Business Wire
Astronics Corporation (Nasdaq: ATRO), a leading provider of
advanced technologies for global aerospace, defense, and other
mission critical industries, announced today that it has filed a
universal shelf registration statement on Form S-3 with the
Securities and Exchange Commission (SEC). The filing of the shelf
registration statement is intended to provide the Company with
greater financial flexibility to access the capital markets in the
future through the sale of securities if it becomes advantageous
for the Company and its shareholders.
The shelf registration statement on Form S-3 has been filed with
the SEC but has not yet become effective. The securities to be
registered on the Form S-3 may not be sold nor may offers to buy be
accepted prior to the time the Form S-3 registration statement
becomes effective. If and when the shelf registration is declared
effective, it will permit the Company to offer and sell, from time
to time in one or more offerings, up to $150 million of common
stock, preferred stock, debt securities, warrants to purchase any
of these securities, rights to purchase common stock, preferred
stock or debt securities, stock purchase contracts, units or any
combination of such securities. Any offering of securities under
the registration statement will be made only by means of a
prospectus supplement related to such offering and the accompanying
prospectus included in the shelf registration. Astronics currently
expects that the net proceeds of any such future offerings of
securities pursuant to the shelf registration statement would be
used for general corporate purposes, including, without limitation,
organic strategic initiatives and reducing debt as well as general
working capital needs.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of any securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Astronics Corporation
Astronics Corporation (Nasdaq: ATRO) serves the world’s
aerospace, defense, and other mission critical industries with
proven, innovative technology solutions. Astronics works
side-by-side with customers, integrating its array of power,
connectivity, lighting, structures, interiors, and test
technologies to solve complex challenges. For over 50 years,
Astronics has delivered creative, customer-focused solutions with
exceptional responsiveness. Today, global airframe manufacturers,
airlines, militaries, completion centers and Fortune 500 companies
rely on the collaborative spirit and innovation of Astronics. The
Company’s strategy is to increase its value by developing
technologies and capabilities that provide innovative solutions to
its targeted markets. For more information on Astronics and its
solutions, visit Astronics.com.
Safe Harbor Statement
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and such statements are subject to the safe harbor created by those
sections and the Private Securities Litigation Reform Act of 1995,
as amended. One can identify these forward-looking statements by
the use of the words “expect,” “anticipate,” “plan,” “may,” “will,”
“intend,” “estimate” or other similar expressions and include all
statements with respect to the Company’s plans and expectations
regarding its registration statement on Form S-3 and any potential
future offering or capital raises and the use of proceeds
therefrom. Because such statements apply to future events, they are
subject to risks and uncertainties that could cause actual results
to differ materially from those contemplated by the statements.
Important factors that could cause actual results to differ
materially from what may be stated here include the continued
global impact of COVID-19 and related governmental and other
actions taken in response, trend in growth with passenger power and
connectivity on airplanes, the state of the aerospace and defense
industries, the market acceptance of newly developed products,
internal production capabilities, the timing of orders received,
the status of customer certification processes and delivery
schedules, the demand for and market acceptance of new or existing
aircraft which contain the Company’s products, the need for new and
advanced test and simulation equipment, customer preferences and
relationships, the effectiveness of the Company’s supply chain, and
other factors which are described in filings by Astronics with the
Securities and Exchange Commission. Except as required by
applicable law, the Company assumes no obligation to update
forward-looking information in this news release whether to reflect
changed assumptions, the occurrence of unanticipated events or
changes in future operating results, financial conditions or
prospects, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230605005813/en/
Company: David C. Burney Executive Vice President and CFO
invest@astronics.com +1.716.805.1599
Investors: Kei Advisors LLC Deborah K. Pawlowski,
Investor Relations dpawlowski@keiadvisors.com +1.716.843.3908
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