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Clearfield ( NASDAQ: CLFD ) on Tuesday announced that it intends to sell $100 million of its common stock in an underwritten public offering.
Clearfield also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its common stock in the underwritten public offering.
The net proceeds from the offering will be used for working capital and general corporate purposes.
Cowen and Needham & Company are acting as joint book-running managers for the offering.