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SMALL BUSINESS
Harris&Harris closes public share offering
AP ONLINE
posted: 48 DAYS 7 HOURS AGO
NEW YORK (AP) — Venture capital company Harris&Harris Group Inc. on Friday announced the close of a follow-on public offering, saying it now expects net proceeds of $21.5 million.
The company said the offering of 4.8 million shares at $4.75 each reflects an underwriter's option to buy 637,500 additional shares to cover over-allotments. Needham&Company LLC acted as the sole book running manager.
Harris&Harris said it plans to use the net proceeds for new venture capital investments in nanotechnology and microsystems, investments in existing portfolio companies and operating expenses.
Shares of Harris&Harris fell 2 cents to $5.05 in after-hours trading. During the regular session, they slid 7 cents, or 1.4 percent, to $5.07.
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