IPG Photonics exercises over-allotment option
IPG Photonics in Oxford has exercised an over-allotment option to purchase 1,350,000 shares of common stock from certain existing stockholders.
Earlier this week, IPG offered an IPO of 9 million shares of common stock. Though initially offered at $16.50 per share, the price rose 55 percent to close at $25.60 per share on Wednesday. After light trading yesterday, shares of IPG rose 2.35 percent to $25.74 per share.
The selling shareholders granted the over-allotment option to the underwriters in connection with the IPO. IPG Photonics Corp. will not receive any proceeds from the exercise of the over-allotment option. Further, a registration statement related to these securities has been filed with the Securities and Exchange Commission.
IPG develops and manufactures fiber lasers and amplifiers for diverse applications in numerous markets, and has manufacturing facilities in Germany, Russia and Italy.
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