Clearfield, Inc. (CLFD) to Offer $100M in Common Stock

Clearfield, Inc. (NASDAQ: CLFD) today announced that it intends to sell $100 million of its common stock, $0.01 par value, in an underwritten public offering. Clearfield also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its common stock in the underwritten public offering. The net proceeds from the offering will be used for working capital and general corporate purposes. The 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, including the offering price of the common stock.

Cowen and Needham & Company are acting as joint book-running managers for the offering.

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