Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

September 18, 2014

Sevcon closes $10M rights offering

Southborough-based Sevcon Inc., which designs and manufacturers controls for electric and hybrid vehicles, has closed its $10 million rights offering to its shareholders, the company said Wednesday.

The rights offering, which was announced in June, raised the $10 million by allowing shareholders to buy the additional stock at lower prices than what was available to the general investing public.

"We are delighted by the response of our shareholders to the rights issue,” President and CEO Matt Boyle said in a statement. “It was extremely important for us to raise these funds in order to facilitate the continuing growth of the business, both organically and inorganically."

With the closing, stockholders of record will receive their entitlement of shares by close of business today, the company said.

Sign up for Enews

WBJ Web Partners

Related Content

0 Comments

Order a PDF