Frequency Electronics (FEIM) wrapped up its July 30 stock offering by having the underwriters fully exercise their over-allotment option: on August 3 they opted in, and on August 5 they purchased an additional 260,869 shares. The company received about $14.1 million in gross proceeds from these option shares, before underwriting discounts, commissions, and offering expenses. Management says it will use the net proceeds to fund further growth, including capital expenditures, working capital, and other general corporate purposes.
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