FARMINGDALE, NY -- Cemtrex has withdrawn a mandatory SEC filing that typically precedes new stock offerings.

The EMS company said it was pulling the Form S-3 registration statement filed with the SEC on Apr. 12 after determining it was unlikely the company would meet the eligibility requirements.

Form S-3 is typically filed in conjunction with a common stock or preferred stock offering. The SEC requires applicants meet all dividend and debt requirements in the 12 months prior to the filing date on the form.

The registration statement did not become effective and no new securities have been sold.

The company is still exploring traditional debt & equity financings to raise funds for planned acquisitions and to strengthen its balance sheet.

Cemtrex said it was raising funds after identifying several "attractive" acquisition opportunities that would be synergistic and accretive to its existing business. It ended its pursuit of the acquisition of an industrial air filtration company previously announced last year in order to pursue more attractive prospects. The company had about $3.3 million in cash on its balance sheet as of Mar. 31.

Commenting on the strategy, Cemtrex chairman and CEO Saagar Govil said, "As we grow revenues and profitability, we become eligible for stronger, more traditional financing structures and thus can reward the owners of the company's equity. We are taking the necessary steps to have attractive financing options in place for the future despite changing course from the S-3."

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