Secondary Stock OfferingsBy The Online Investor Staff, updated Thu., Feb. 27, 3:27 PM
|This Slide: #8 of 25|
Slide #8. Universal Technical Institute, Inc. — Secondary Offering
Universal Technical Institute, Inc. (NYSE:UTI)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Universal Technical Institute, Inc. (NYSE: UTI), the leading provider of transportation technician training, announced today that it intends to offer and sell 5,650,000 shares of its common stock in an underwritten public offering. In addition, Universal Technical Institute intends to grant the underwriters a 30-day option to purchase up to 847,500 additional shares of common stock. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. -updated 2/21- Universal Technical Institute, Inc. (NYSE: UTI), the leading provider of transportation technician training, announced today the pricing of an underwritten public offering of 6,782,610 shares of its common stock at a public offering price of $7.75 per share, before underwriting discounts and commissions. The size of the offering was increased from the previously announced 5,650,000 shares of common stock. In addition, Universal Technical Institute has granted the underwriters a 30-day option to purchase up to 1,017,390 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares are to be sold by Universal Technical Institute. The offering is expected to close on February 25, 2020, subject to satisfaction of customary closing conditions.
Universal Technical Institute is a provider of postsecondary education for students seeking careers as automotive, diesel, collision repair, motorcycle and marine technicians as well as welders and computer numeric control machining technicians. Co. provides certificate, diploma or degree programs under the banner of several brands, including Universal Technical Institute, Motorcycle Mechanics Institute and Marine Mechanics Institute and NASCAR Technical Institute. Additionally, Co. provides manufacturer specific advanced training (MSAT) programs, including student-paid electives, at its campuses and manufacturer or dealer sponsored training at certain campuses and training centers.
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