Ultralife Batteries announces $13.5 million public offering

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.

Nov 9th, 2007

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.

More in Defense Executive