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NAPCO Security Technologies, Inc. (NASDAQ: NSSC) announced today the pricing of the previously announced underwritten secondary public offering of 2,100,000 shares of its common stock at an offering price to the public of $31.50 per share (the “Offering”). The shares are being sold by NAPCO’s Chairman of the Board and President and Chief Executive Officer, Richard L. Soloway, and its Chief Financial Officer and Executive Vice President of Operations, Kevin S. Buchel. Additionally, the Selling Stockholders have granted the underwriters a 30-day option to purchase from them up to an additional 300,000 shares of common stock. The Offering is expected to close on February 13, 2023, subject to customary closing conditions.
NAPCO is not issuing or selling any shares of common stock in the Offering and therefore will not receive any of the proceeds from the sale of common stock in the Offering by the Selling Stockholders.
Needham & Company, LLC and William Blair & Company, L.L.C. are acting as joint book-runners for the Offering.
