Manitex Sells $4.125 Million in Common Stock

July 16, 2012—Manitex International, Bridgeview, Ill., has entered into definitive agreements with certain investors to sell an aggregate of 500,000 shares of its common stock, no par value per share, in a registered direct offering for gross proceeds of approximately $4.125 million, before deducting placement agent's fees and offering expenses.

 

The investors have agreed to purchase the shares of common stock for a price of $8.25 per share. The closing of this offering is expected to occur on or about July 17, 2012, subject to the satisfaction of customary closing conditions. The net proceeds from the offering will be used for repayment of long-term indebtedness.

 

Avondale Partners LLC acted as the exclusive placement agent for the offering.