September 21, 2007 — CVD Equipment Corp., designer and manufacturer of standard and custom equipment used in the development, design, and manufacture of advanced electronic components, nanomaterials, and coatings, has priced its previously announced public offering of 1,200,000 shares of common stock at $4.75 per share. The shares are expected to be delivered on September 25, 2007.
The company has granted the underwriter for the offering, Collins Stewart LLC (formerly C.E. Unterberg, Towbin, LLC), a 30-day option to purchase up to an additional 180,000 shares of common stock at the public offering price. The net proceeds will be approximately $5.3 million, or approximately $6.1 million if the underwriters fully exercise their over-allotment option. CVD Equipment intends to use the proceeds for general corporate purposes, including possible future product development efforts, acquisitions, or strategic alliances.
In addition, effective upon the opening of the market on September 20, 2007, the listing of CVD’s common stock was transferred from the American Stock Exchange to the NASDAQ Capital Market. The Company will continue to trade under the symbol CVV on NASDAQ.