Newport to Sell Stock in Secondary Offer
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Newport Corp., an Irvine maker of testing and measuring equipment for technology products, said Thursday that it has priced 3.1 million shares it plans to sell in a secondary stock offering at $112 a share.
In Nasdaq trading Thursday, Newport’s stock lost $6.50 to close at $108.88 a share.
Newport said in a press release that it will sell 3 million shares and that certain shareholders will sell 100,000 shares.
The underwriters are Credit Suisse First Boston, UBS Warburg LLC and Wit SoundView.
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