ANAHEIM, Calif.--(BUSINESS WIRE)--Oct. 4, 2018--
Willdan Group, Inc. (NASDAQ: WLDN) (“Willdan” or the “Company”)
announced today the pricing of an underwritten public offering of
1,750,000 shares of the Company’s common stock at a price to the public
of $30.00 per share. The offering is expected to close on or about
October 9, 2018, subject to customary closing conditions.
The Company has granted the underwriters an option for a period of 30
days to purchase up to an additional 262,500 shares of the Company’s
common stock. If exercised, all additional shares will be offered at the
public offering price per share of common stock in the offering.
If the Company’s proposed acquisition of Lime Energy Co. is completed,
the Company intends to use the net proceeds of the offering to fund a
portion of the purchase price of the acquisition and for general
corporate purposes, which may include the repayment of borrowings under
its new credit facilities. If the acquisition of Lime Energy Co. is not
completed, the Company intends to use the net proceeds of the offering
for general corporate purposes.
Wedbush Securities Inc. and Roth Capital Partners acted as joint
book-running managers for the offering.
A shelf registration statement relating to the Company’s common stock
was previously filed by the Company with the Securities and Exchange
Commission (the “SEC”) and was declared effective on November 17, 2017.
The offering may only be made by means of a prospectus supplement and
accompanying prospectus. A copy of the preliminary prospectus supplement
and accompanying prospectus relating to the offering may be obtained by
visiting EDGAR on the SEC website at www.sec.gov
or by contacting Wedbush Securities Inc., Attention: Equity Syndicate
Prospectus Department, 2 Embarcadero Center, Suite 600, San Francisco,
CA 94111, by e-mail at firstname.lastname@example.org
or by telephone at 800.422.4309; or Roth Capital Partners, 888 San
Clemente Drive, Suite 400, Newport Beach, CA 92660 or by telephone at
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the common stock, nor shall there be any
sale of the common stock in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
Willdan is a nationwide provider of professional technical and
consulting services to utilities, government agencies, and private
industry. Willdan’s service offerings span a broad set of complementary
disciplines that include electric grid solutions, energy efficiency and
sustainability, engineering and planning, and municipal financial
This press release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements can be identified by such words and phrases
as “believes,” “anticipates,” “expects,” “intends,” “estimates,” “may,”
“will,” “should,” “continue” and similar expressions, comparable
terminology or the negative thereof, and includes statements in this
press release regarding the anticipated closing date of the public
offering of Willdan’s common stock.
Forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied in the forward-looking statements, including, but not limited
to: Willdan’s ability to consummate the public offering of common stock,
its use of any net proceeds from the offering, Willdan’s ability to
complete its pending acquisition of Lime Energy Co. and, if completed,
to obtain the anticipated benefits therefrom, Willdan’s ability to draw
under the delayed draw term loan facility in connection with its new
credit facilities, Willdan’s ability to adequately complete projects in
a timely manner, Willdan’s ability to compete successfully in the highly
competitive energy efficiency services market, changes in state, local,
and regional economies and government budgets, Willdan’s ability to win
new contracts, to renew existing contracts (including with Willdan’s two
primary customers and, if the acquisition of Lime Energy Co. is
completed, the two primary customers of Lime Energy Co.) and to compete
effectively for contract awards through bidding processes and Willdan’s
ability to successfully integrate its acquisitions and execute on its
growth strategy. Willdan’s business could be affected by a number of
other factors, including the risk factors listed from time to time in
Willdan’s reports filed with the SEC, including, but not limited to, the
Annual Report on Form 10-K filed for the year ended December 29, 2017
and the Current Report on Form 8-K filed with the SEC on October 3,
2018, as such disclosures may be amended, supplemented or superseded
from time to time by other reports Willdan files with the SEC. Willdan
cautions investors not to place undue reliance on the forward-looking
statements contained in this press release. Willdan disclaims any
obligation to, and does not undertake to, update or revise any
forward-looking statements in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181004005339/en/
Source: Willdan Group, Inc.
Willdan Group, Inc.
Stacy McLaughlin, 714-940-6300
Financial Profiles, Inc.
Tony Rossi, 310-622-8221