CPS Technologies raises $9.6 million in registered direct offering

CPS Technologies Corp. (NASDAQ: CPSH) announced it entered into securities purchase agreements with institutional investors for a registered direct offering of 1.2 million common shares at $8.00 per share, according to a company statement.

The offering is expected to generate gross proceeds of approximately $9.6 million before deducting placement agent fees and other expenses. The transaction is scheduled to close on or about May 29, 2026, subject to customary closing conditions.

Roth Capital Partners is serving as the exclusive placement agent for the offering. The company stated it intends to use net proceeds for general corporate purposes, including working capital, capital expenditures, commercialization of developing technologies and other investments.

The offering is being conducted under a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on September 20, 2024, and declared effective on October 17, 2024. The shares are being sold at-the-market under Nasdaq rules.

CPS Technologies manufactures high-performance material solutions for customers in transportation, energy, automotive, electronics, telecommunications, aerospace and defense sectors. The Norton, Massachusetts-based company specializes in metal matrix composites and hermetic packaging for power and communications modules.

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