PITTSBURGH — Ampco-PIttsburgh Corp. raised gross proceeds of $19.3 million through the subscription period of its rights offering.
The Carnegie-based specialty metals manufacturer announced on Monday that the subscriptions totaled about 12.3 million units and was 97% subscribed.
The rights offering allowed Ampco-Pittsburgh’s shareholders of record as of Aug. 17 to purchase up to 12,800,795 units consisting of shares of common stock and Series A warrants to purchase common shares, which expire on Aug. 1, 2025.
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