Xcerra Launches $40 Mln Stock Offering

(RTTNews) - Xcerra Corp. (XCRA) said Monday that it has commenced a public offering of $40 million of its common stock pursuant to an effective shelf registration statement.

Xcerra said it plans to use about $18 million of the net proceeds from the offering to repay the outstanding principal balance of the promissory note issued to Dover Corp. in connection with its acquisition of Xcerra's Multitest and ECT businesses, to repay a portion of the outstanding principal amount of the company's bank term loan and for general corporate purposes, including capital expenditures and potential strategic acquisitions.