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Zygo Completes Offering
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Business New Haven
3/19/2001
By: BNH
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MIDDLEFIELD - Earlier this month Zygo Corp. (NASDAQ: ZIGO) closed a previously announced follow-on public offering of 2,830,000 shares of common stock, which included 330,000 shares offered by selling stockholders. Zygo also sold 424,500 shares to the underwriters to cover over-allotments. The offering price was $19 per share. Net proceeds to the company - including the over-allotment shares, after deducting underwriting discounts, commissions and estimated offering expenses - totaled $51.8 million. Proceeds will be used to fund capital expenditures relating to new manufacturing facilities for the micro-optics business, increased research and development expenditures relating to optical components and modules and automation in the micro-optics arena, and the purchase of coating equipment for the optics business and other general corporate purposes.
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