Montrose Environmental Prices Public Offering Of 3 Mln Shares At $37.15/shr

(RTTNews) - Montrose Environmental Group Inc. (MEG) announced the pricing of underwritten public offering by the company of 3 million shares of its common stock at a price of $37.15 per share, before underwriting discounts and commissions.

The company has also granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock. All of the securities to be sold in the offering are being offered by the Company.

The offering is expected to close on April 22, 2024.

The company plans to use the net proceeds from the offering for general corporate purposes and continued acceleration of strategic growth initiatives, including, but not limited to, acquisitions or business expansion, commercialization of intellectual property given expanded environmental regulations, research and development, software development, capital expenditures, working capital and the repayment of debt.