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GSI Lumonics to Offer 4 Million Sharesin the US, Canada

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KANATA, Ontario, Mar. 24 -- GSI Lumonics Inc. has filed a registration statement with the US Securities and Exchange Commission and a short-form preliminary prospectus with the securities commissions in each of the provinces of Canada for a proposed public offering of 4,000,000 common shares. A syndicate of underwriters comprised of CIBC World Markets, Chase H&Q and Needham & Co. is managing the offering.
According to the registration statement, GSI Lumonics Inc. will offer all of the 4,000,000 common shares. In addition, GSI Lumonics and a group of selling shareholders will grant the underwriters an option to purchase an additional 600,000 common shares in the event of any over-allotments. The company plans to use the net proceeds of the offering for capital expenditures, working capital, and general corporate purposes, including possible future acquisitions. Pending these uses, the net proceeds will be added to GSI Lumonics' cash resources.
Mar 2000
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