MIDDLETOWN, R.I.--(BUSINESS WIRE)--Jan. 21, 2004--KVH Industries, Inc., (Nasdaq: KVHI) today announced plans to offer 2,250,000 shares of common stock in an underwritten public offering under its existing shelf registration statement. The underwriters will have an option to purchase an additional 337,500 shares to cover over-allotments, if any.
Needham & Company, Inc. is acting as the sole book-running manager, and SG Cowen Securities Corporation is acting as the co-lead manager in this offering. Raymond James & Associates, Inc., and C.E. Unterberg, Towbin are acting as co-managers. All of the shares are being offered by KVH Industries, Inc., and the offering represents new financing.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities. The offering of shares of common stock may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus can be obtained from Needham & Company, Inc. at 445 Park Avenue, 3rd Floor, New York, New York 10022 or by phone at (212) 371-8300.
KVH Industries, Inc., designs and manufactures products that enable mobile communication, navigation, and precision pointing through the use of its proprietary mobile satellite antenna and fiber optic technologies. The company is developing next-generation systems with greater precision, durability, and versatility for communications, navigation, and industrial applications. An ISO 9001-registered company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and defense product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Hoersholm, Denmark.
This press release contains forward-looking statements that involve risks and uncertainties. The actual results realized by the company could differ materially from the statements made herein. Factors that might cause such differences include, but are not limited to: limited history of profitability; lack of market demand for new products; unforeseen changes in competing technologies and products; a slower-than-expected reduction in product costs; changing military requirements and uneven military sales cycles; interruption of production schedules; lack of reliable vendors, service providers, and outside products; growth management; worldwide economic variances; and protection of our proprietary technology. Additional factors are discussed in the prospectus supplement. KVH assumes no obligation to update its forward-looking statements to reflect new information and developments.