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Phoenix — White Electronic Designs Corp. has commenced a public offering of 4.5 million shares of its common stock at a price of $10 per share.
The company is selling 2.2 million shares, while 2.3 million shares are being sold by selling shareholders. The company and the selling shareholders have granted the underwriters an option to purchase up to an additional 675,000 shares of common stock to cover over-allotments, if any.
The offering is being managed by Needham & Co. Inc. and co-managed by A.G. Edwards & Sons Inc. and Raymond James & Associates Inc.
White Electronic Designs Corp. designs, develops and manufactures innovative microelectronic and display components and systems for high technology products used in military and commercial markets. For more information, visit www.whiteedc.com.