By Chris Wack

CPS Technologies shares were 4% lower, at $11.11, after the company said it entered into definitive securities purchase agreements with certain institutional investors for the purchase and sale of 1.2 million shares at $8 a share in a registered direct offering.

The company said the closing of the offering is expected to occur on or about Friday, subject to the satisfaction of customary closing conditions.

The proceeds from the offering are expected to be $9.6 million, before deducting the placement agent fees and other offering expenses payable by CPS Technologies.

The company said it intends to use the proceeds from the offering for general corporate purposes, which may include working capital, capital expenditures, commercialization of developing technologies and other investments.

The stock hit its 52-week high of $14.39 on Wednesday, and is 258% higher in the past 12 months.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

May 28, 2026 09:42 ET (13:42 GMT)

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