Northern Technologies International Corp. (NASDAQ: NTIC) has filed a shelf offering to sell stock, warrants, and units in an amount of up to $50 million. The company has said it will sell the units directly to investors or via placement agents.
The use of proceeds is listed as for general research and developmentand for working capital to further its bioplastics and other emergingbusinesses.
The company markets and sells proprietary environmentally responsiblematerials products and technical services. Its primary business lineis corrosion prevention; however, it just recently launched abio-plastics product line and is in various stages of development withrespect to other emerging businesses.
This stock rarely trades on an active basis. It closed down 2.5% todayat $9.51 on a volume of 4,459 shares. Its market capis only $35 million and its 52-week trading range is $6.40 to $20.85.
Jon C. Ogg
October 7, 2008