This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Harris & Harris Group Announces Closing of Follow-On Public Offering 2009-10-09 16:17 ET - News Release NEW YORK, Oct. 9, 2009 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc., (Nasdaq:TINY) today announced the closing of its previously announced public follow-on offering of 4,887,500 shares of common stock at a price of $4.75 per share to the public. The aggregate number of shares of common stock sold reflects the exercise in full by the underwriter of its over-allotment option to purchase 637,500 additional shares of common stock. The net proceeds to the Company after deducting underwriting discounts and estimated offering expenses are expected to be approximately $21,495,188. Needham & Company, LLC acted as sole book running manager in connection with the offering.
Harris & Harris Group, Inc. intends to use the net proceeds of the offering to make new venture capital investments in nanotechnology and microsystems as well as follow-on investments in our existing portfolio companies, and for operating expenses.
The shares were issued under our shelf registration statement on Form N-2, which was declared effective by the Securities and Exchange Commission on September 22, 2009. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities referred to herein, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
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