Fort Lee-based Pioneer Power Solutions Inc. announced today the completion of its recent public offering. It offered 1.1 million shares of its common stock, as well as 165,000 additional shares of its common stock pursuant to the full exercise of the overallotment option granted to the underwriters.
According to the announcement, the public offering, originally announced last week, the shares were sold at the public offering price of $7 per share, with aggregate net proceeds will be estimated at $7.8 million. Roth Capital Partners acted as sole book-running manager for the offering. Monarch Capital Group acted as co-manager.