IPO - LAKELAND INDUSTRIES INC

Form Type: 424B5

Filing Date: 2025-01-24

Corporate Action: Ipo

Type: New

Accession Number: 000165495425000705

Filing Summary: Lakeland Industries, Inc. is offering 1,820,000 shares of its common stock at a public offering price of $22.00 per share. The offering is being made under a prospectus supplement dated January 22, 2025, linked to a prior prospectus dated July 23, 2024. The directors and executive officers have shown interest in purchasing shares, though these are not binding commitments. The total proceeds before expenses from the offering are expected to be approximately $37.6 million, which will be utilized primarily for repaying existing revolving credit debt, working capital, capital expenditures, and investments in subsidiaries. The document highlights risks associated with the investment, including potential dilution and the volatile nature of the market. The offering also provides the underwriters with a 45-day option to purchase up to an additional 273,000 shares to cover any over-allotments.

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Form Type: 8-K

Filing Date: 2025-01-24

Corporate Action: Ipo

Type: New

Accession Number: 000165495425000715

Filing Summary: On January 22, 2025, Lakeland Industries, Inc. entered into an underwriting agreement with Roth Capital Partners, LLC regarding a previously announced underwritten public offering of 1,820,000 shares of its common stock. The public offering price was set at $22.00 per share, while the Underwriters purchased the shares from the company at a price of $20.68 per share. An additional option for the Underwriters to purchase up to 273,000 shares at the Purchase Price was exercised in full on January 23, 2025. The estimated net proceeds from the offering, after necessary deductions, are approximately $42.8 million. This offering was executed under a shelf registration statement filed with the SEC on July 12, 2024, and was declared effective on July 23, 2024. The closing of the offering occurred on January 24, 2025. The company also issued press releases on January 22, 23, and 24, 2025, announcing the commencement, pricing, and closing of the offering, respectively.

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Form Type: 424B5

Filing Date: 2025-01-22

Corporate Action: Ipo

Type: New

Accession Number: 000165495425000647

Filing Summary: Lakeland Industries, Inc. is offering shares of its common stock with a planned public offering price yet to be determined. The company has indicated that certain directors and executive officers have expressed interest in purchasing shares in this offering, although these indications are not binding. As of January 21, 2025, the last reported sale price of the company's common stock was $25.94 per share. The offering includes an option for underwriters to purchase additional shares to cover over-allotments for 45 days. The intended use of proceeds from this offering includes paying down the outstanding revolving line of credit, working capital, capital expenditures, investments in subsidiaries, and general corporate purposes. The company acknowledges that investing in its shares involves significant risk, particularly immediate dilution in net tangible book value for new investors. The document also discusses the risks related to its operations, financial conditions, market volatility, and future projections, all of which could negatively affect the stock price and investor returns.

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