NEWARK, N.Y., 9 Nov. 2007.Ultralife Batteries Inc. in Newark, N.Y., announced a limited public offering today of 1 million shares of its common stock. The cost is $13.50 per share.
Ultralife leaders expect to use the net proceeds from the public offering to retire $3.5 million of its existing McDowell Research Convertible Notes, to finance $6 million of the acquisition price of Stationary Power Services Inc., and to repay $1 million of borrowings outstanding under a credit facility paying for the Innovative Solutions Consulting Inc. acquisition.
The offering, which is being managed by Stephens Inc. as placement agent, is only by means of a prospectus. When available, copies of the final prospectus will be available from the syndicate department of Stephens Inc. at 111 Center St., Little Rock, Ark. 72201.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. For more information contact Ultralife Batteries online at www.ultralifebatteries.com.
