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Southwall Technologies files offering

Southwall Technologies Inc., a US-based manufacturer of thin film coatings for glass computer screens and car windows, has filed with regulators an offering expected to net US$ 36.2 million.
In a fil…

Southwall Technologies Inc., a US-based manufacturer of thin film coatings for glass computer screens and car windows, has filed with regulators an offering expected to net US$ 36.2 million. In a filing with the Securities and Exchange Commission, the Palo Alto, California-based company said it would offer 2.5 million common shares, while 500,000 shares would be sold by stockholders, who will receive those proceeds. The company, whose products are used to enhance optical and thermal performance and improve user comfort, plans to use its proceeds from the sale of shares for repayment of credit line and outstanding debt, working capital and capital expenditures, the filing said. In the event of heavy demand, underwriters Needham & Company Inc. and D.A. Davidson & Co. have been allotted 450,000 more shares. After the offering there would be about 10.4 million shares outstanding in the company, according to the filing.

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