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[June 2002]
CoorsTek Commences 1 Million Share Follow-On Public Offering
CoorsTek Inc (Golden, CO, USA) - which uses technical ceramics, precision machined metals, engineering plastics and high purity fused quartz to manufacture components and assemblies - has announced that it has commenced the sale of one million shares of its Common Stock, all of which are being offered by the company, at a price of US$33 per share.CoorsTek has also granted the Underwriters an option to purchase an additional 150,000 shares to cover over-allotments, if any.
The company intends to use the net proceeds from the offering to fund its operations, for working capital and for general corporate purposes. It may also use a portion of the net proceeds to acquire or invest in complementary businesses or technologies, although it has no present commitments or agreements to do so.
ENDS