M-tron Industries, Inc. announced its intention to distribute transferable subscription rights to holders of its common stock. Stockholders will receive one subscription right for each share of common stock owned, with five subscription rights entitling the holder to purchase one share of common stock at a strike price yet to be determined. The record date for the Rights Offering is set for March 3, 2025.
The company expects to raise approximately $25 million in gross proceeds if the Rights Offering is fully subscribed. The capital raised is intended for general corporate purposes and to support MtronPTI's strategy of pursuing joint ventures and acquisitions. This initiative aims to further grow EBITDA and expand the company's product portfolio, signaling a focus on inorganic growth.
Trading in the subscription rights on NYSE American is anticipated to commence on a 'regular way' basis on March 5, 2025, under the symbol 'MPTI RT,' and continue until the close of trading on March 20, 2025. The Rights Offering is expected to expire on March 21, 2025, unless extended by the company. Stockholders exercising their full basic subscription rights will also have over-subscription privileges for any unsubscribed shares.
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