SOURCE: CPS Technologies Corporation

CPS Technologies Corporation

November 18, 2015 15:41 ET

CPS Technologies Corporation Files Shelf Registration Statement

NORTON, MA--(Marketwired - Nov 18, 2015) - CPS Technologies Corp. (NASDAQ: CPSH) announced today that it has filed a shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission ("SEC"). When declared effective by the SEC, the registration statement will allow the Company to issue various types of securities, including common stock, preferred stock and warrants to purchase common stock, from time to time up to a maximum aggregate offering price of $10 million.

"Although we do not have any immediate plans for raising and using additional capital, we anticipate that a shelf registration will provide more efficient access to the capital markets and allow CPS to act opportunistically in support of our growth objectives," said Grant Bennett, President and Chief Executive Officer. "Filing a shelf registration is a prudent step to provide additional financial flexibility for CPS."

After the shelf registration statement becomes effective, CPS will have the ability to offer and sell securities covered by the registration statement, on a delayed or continuous basis, through one or more methods of distribution, subject to market conditions and CPS's capital needs. The terms of any offering under the shelf registration statement, including security type, amount and price, will be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to completion of the offering. The Company may also authorize one or more free writing prospectuses in connection with an offering.

The shelf registration statement has been filed with the SEC but has not yet become effective. The securities covered by such registration statement may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of such securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offering of the securities covered under the shelf registration statement will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offer.

About CPS
CPS Technologies Corporation is a global leader in producing metal-matrix composite components used to improve the reliability and performance of various electrical systems. CPS products are used in motor controllers for hybrid and electric vehicles, high-speed trains, subway cars and wind turbines. They are also used as heatspreaders in internet switches, routers and high-performance microprocessors. CPS also develops and produces metal-matrix composite armor.

Contact Information

  • CPS Technologies Corporation
    Ralph Norwood
    Chief Financial Officer
    111 South Worcester Street
    Norton, MA 02766
    Telephone: (508) 222-0614
    Web Site: www.alsic.com