-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueSupply Chain Strategies
A successful brand is built on strong customer relationships—anchored by a well-orchestrated supply chain at its core. This month, we look at how managing your supply chain directly influences customer perception.
What's Your Sweet Spot?
Are you in a niche that’s growing or shrinking? Is it time to reassess and refocus? We spotlight companies thriving by redefining or reinforcing their niche. What are their insights?
Moving Forward With Confidence
In this issue, we focus on sales and quoting, workforce training, new IPC leadership in the U.S. and Canada, the effects of tariffs, CFX standards, and much more—all designed to provide perspective as you move through the cloud bank of today's shifting economic market.
- Articles
- Columns
- Links
- Media kit
||| MENU - smt007 Magazine
SMTC Unveils Terms of $13M Rights Offering
July 24, 2018 | Globe NewswireEstimated reading time: 3 minutes
SMTC Corporation will be offering rights to holders of its common stock of record at the close of business on July 23, 2018. Pursuant to the Rights Offering, each holder of shares of common stock on the record date of July 23, 2018 will receive one non-transferable right for every three shares of common stock held on the record date. No fractional shares will be issued. The Rights Offering includes an oversubscription privilege whereby stockholders fully exercising their basic subscription right may purchase shares offered but not purchased by other stockholders, if available. Exercising a basic right or oversubscription privilege will allow a shareholder as of the record date to acquire shares at a price 20% below the 10-day volume-weighted average price, or at $2.25/share. All rights will expire if not exercised by 4:00 PM EDT on August 22, 2018, unless the Company extends the offering period.
The Rights Offering is made pursuant to a prospectus supplement, filed today, to its previously filed shelf Registration Statement on Form S-3 deemed effective by the Securities and Exchange Commission (SEC) on July 2, 2018, for a Rights Offering to its existing stockholders. The Prospectus Supplement contains the terms of the Rights Offering.
$13 Million Rights Offering
Neither the Company, nor its board of directors is making any recommendation to stockholders as to whether to exercise their subscription rights. However, the Company has received commitments from Red Oak Partners LLC, and Wynnefield Funds, the Company's largest stockholders, as well as with other members of the board of directors, members of the executive management team, and other outside investors who in aggregate have committed to fund up to the full $13 million, subject to prorations imposed in the Rights Offering.
Stockholders should carefully read the Prospectus Supplement because it contains important information. The Prospectus Supplement and documents including the Rights Certificate and instructions about how to exercise and pay for the rights exercised will be both mailed to all registered stockholders commencing July 25, 2018 and simultaneously provided to all brokers or nominee holders for distribution by the broker to all beneficial owners of the Company's stock. Stockholders may also review (at no cost) the Prospectus Supplement and other documents relating to the Rights Offering at the SEC's web site at www.sec.gov by clicking "Company Filings" as shown on the home page of that website and on the next page by entering the Company's ticker symbol SMTX in the "Fast Search" box.
2018 Outlook and Update
“Following our 12 percent year-over-year revenue growth reported in Q1 2018, we continue to see strong momentum in our business and expect to achieve revenue growth in excess of 25 percent for the full year in 2018 over 2017,” reported Ed Smith, President and CEO of SMTC. “The funds raised in the Rights Offering will support strong organic growth for purchase of capital equipment and working capital and allow the company to be opportunistic on strategically compelling acquisitions,” Smith added.
About SMTC Corporation
SMTC, founded in 1985, is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services. SMTC manufacturing facilities span a broad footprint in the United States, China and Mexico. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, networking and computing, power and energy and medical market segments. SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq National Market System under the symbol SMTX. For further information on SMTC, please click here.
Testimonial
"The I-Connect007 team is outstanding—kind, responsive, and a true marketing partner. Their design team created fresh, eye-catching ads, and their editorial support polished our content to let our brand shine. Thank you all! "
Sweeney Ng - CEE PCBSuggested Items
Hon Hai Technology Group (Foxconn) and TECO Announce Strategic Alliance Targeting AI Data Center Capabilities
07/31/2025 | Hon Hai Technology GroupHon Hai Technology Group (“Foxconn”) and TECO Electric & Machinery Co Ltd (“TECO”) on Wednesday announced a share exchange, strategic alliance that will strengthen their AI infrastructure capabilities and propel the two Taiwanese tech majors into key markets in the global super-computing race.
KOKI to Showcase Analytical Services and New HF1200 Solder Paste at SMTA Guadalajara 2025
07/31/2025 | KOKIKOKI, a global leader in advanced soldering materials and process optimization services, will exhibit at the SMTA Guadalajara Expo & Tech Forum, taking place September 17 & 18, 2025 at Expo Guadalajara, Salón Jalisco Halls D & E in Guadalajara, Mexico.
Global Citizenship: The Global Push for Digital Inclusion
07/16/2025 | Tom Yang -- Column: Global CitizenshipIt can be too easy to take the technology at our fingertips for granted: high-speed internet, cloud-based collaboration, and instant video calls across continents. Yet, for billions of people, access to these digital tools is a distant dream. As a global community, we must ensure that technology is available to all. Here is how technology is bridging physical, economic, and educational gaps in underserved regions and profoundly reshaping lives.
SMT007 Magazine July—What’s Your Competitive Sweet Spot?
07/01/2025 | I-Connect007 Editorial TeamAre you in a niche that’s growing or shrinking? Is it time to reassess and refocus? We spotlight companies thriving by redefining or reinforcing their niche—what are their insights? In the July 2025 issue of SMT007 Magazine, we spotlight companies thriving by redefining or reinforcing their niche and offer insights to help you evaluate your own.
Specialty Coating Systems (SCS) Relocates to New Custom-Built Site in Switzerland
06/19/2025 | Specialty Coating Systems (SCS)Specialty Coating Systems (SCS) is pleased to announce the relocation of its Switzerland operations to a new custom-built facility. The approximately 2,200 square-meter coating operation, which is located at Rue du Collège 43, 2300 La Chaux-de-Fonds, is ISO 9001:2015 certified and specifically designed to optimize quality and provide excellent service for customers across the medical device, electronics, aerospace and automotive markets.