Form 8-K - Current report
28 Septiembre 2023 - 3:15PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) |
September 27, 2023 |
Transcat, Inc. |
(Exact name of registrant as specified in its charter) |
Ohio |
000-03905 |
16-0874418 |
(State or other jurisdiction |
(Commission |
(IRS Employer |
of incorporation) |
File Number) |
Identification No.) |
35 Vantage Point Drive, Rochester, New York |
14624 |
(Address of principal executive offices) |
(Zip Code) |
Registrant's telephone number, including area code |
(585) 352-7777 |
|
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock, $0.50 par value |
TRNS |
Nasdaq Global Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
As previously reported, on September 21, 2023,
Transcat, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Oppenheimer
& Co. Inc., as representative of the several underwriters named in Schedule I thereto (the “Underwriters”), in
connection with the offer and sale of 736,845 shares of the Company’s common stock, par value $0.50 per share (the “Common
Stock”), pursuant to a registration statement on Form S-3 (File No. 333-250135) (the “Registration Statement”) that
was filed with the Securities and Exchange Commission (the “SEC”) on November 17, 2020 and was declared effective on November
27, 2020, the related registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the “Securities
Act”), and the prospectus contained in the Registration Statement, as supplemented by the final prospectus supplement dated September
21, 2023, that was filed with the SEC pursuant to Rule 424(b) under the Securities Act, in an underwritten public offering at a public
offering price of $95.00 for each share (the “Offering”). The Offering closed on September 25, 2023. In connection with the
Offering, the Company granted the Underwriters a 30-day option to purchase up to 110,526 additional shares of Common Stock (the “Option”).
On September 27, 2023,
the Underwriters notified the Company that the Underwriters would exercise the Option in full to purchase an additional 110,526 shares
of Common Stock (the “Exercise”). The Exercise is expected to close on or about September 29, 2023.
In
connection with the Exercise, the legal opinion and consent of Calfee, Halter & Griswold LLP as
to the legality of the Common Stock sold is being filed as Exhibit 5.1 to this Current Report on Form 8-K and is incorporated
herein and into the Registration Statement by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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TRANSCAT, INC. |
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Dated: September 28, 2023 |
By: |
/s/ James M. Jenkins |
|
|
James M. Jenkins |
|
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Chief Legal Officer, Corporate Development Officer and Corporate Secretary |
Exhibit 5.1
|
Calfee, Halter & Griswold LLP
Attorneys at Law
The Calfee Building
1405 East Sixth Street
Cleveland, Ohio 44114-1607
216.622.8200 Phone |
September
28, 2023
Transcat,
Inc.
35
Vantage Point Drive
Rochester,
NY 14624
We
have acted as special Ohio counsel for Transcat, Inc. (the “Company”) in connection with the registration of 110,526 shares
(the “Option Shares”) of common stock, $0.50 par value per share, of the Company (the “Common Stock”), pursuant
to a Registration Statement on Form S-3 (File No. 333-250135) which was filed with the Securities and Exchange Commission (the “Commission”)
on November 17, 2020 (the “Original Registration Statement”) and a Registration Statement on Form S-3 (File No. 333-274611)
which was filed with the Commission on September 20, 2023 (the “Additional Registration Statement”
and, together with the Original Registration Statement, the “Registration Statement”). The Additional Registration
Statement was filed pursuant to Rule 462(b) promulgated under the Securities Act of 1933, as amended (the “Securities Act”).
The Additional Registration Statement incorporates by reference the Original Registration Statement.
The
Option Shares are being offered pursuant to the prospectus accompanying the Registration Statement, as supplemented by a prospectus supplement
relating to the Option Shares dated September 21, 2023 (the prospectus, the prospectus supplement and any amendments thereto, collectively,
the “Prospectus”). The Registration Statement and the Prospectus were filed under the Securities Act. Terms used and not
defined herein shall have the meanings given to them in the Registration Statement.
We
have examined or are otherwise familiar with the Company’s Articles of Incorporation, as amended, the Company’s Code of Regulations,
as amended, the Registration Statement, and such other documents, records and instruments as we have deemed necessary or appropriate
for the purposes of this opinion.
Based
upon the foregoing, we are of the opinion that the Option Shares have been duly authorized and validly issued by the Company and, when
delivered and paid for in the manner contemplated by the Underwriting Agreement, dated September 21, 2023 (the “Underwriting Agreement”),
by and between the Company and Oppenheimer & Co. Inc., will be fully paid and non-assessable.
We
are attorneys licensed to practice law in the State of Ohio. The opinion expressed herein is limited solely to the federal laws of the
United States of America and
|
CALFEE.COM | 888.CALFEE1 |
Transcat,
Inc.
September
28, 2023
Page
2
the
laws of the State of Ohio. We express no opinion as to the effect or applicability of the laws of any other jurisdiction.
We
consent to the filing of this opinion with the Registration Statement and to the use of our name therein under the caption “Legal
Matters.” Such consent, however, is not an admission that we are in the category of persons whose consent is required under Section
7 of the Securities Act.
|
Very
truly yours, |
|
|
|
/s/
Calfee, Halter & Griswold LLP |
|
|
|
CALFEE,
HALTER & GRISWOLD LLP |
|
CALFEE.COM | 888.CALFEE1 |
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