TIS Orchids Paper Products Company , Over-Allotment Option
Orchids Paper Products Company
Orchids Paper Products Company today announced that the Company closed the sale of an additional 112,500 shares of its common stock at the public offering price of $18.50 per share. These shares were issued pursuant to the over-allotment option granted to Stephens Inc. as underwriter in conjunction with the Company's previously announced offering of 750,000 shares of common stock completed on August 26, 2009. The Company received proceeds of approximately $2.0 million from the sale of the additional 112,500 shares after deducting the underwriting discount in addition to the $12.8 million from the previously announced sale of 750,000 shares, after deducting the underwriting discount and estimated expenses. StockEinstein.com offers free trading alerts on stocks about to run.
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Orchids Paper Products Company (Orchids), manufactures bulk tissue paper, known as parent rolls, and converts parent rolls into a full line of tissue products, including paper towels, bathroom tissue and paper napkins, for the consumer, or at-home market. Orchids markets its products to private label segment of the consumer tissue market and focuses on serving the discount retail market. The Company’s primary market is the value retailers or dollar stores. While Orchids Paper has locations throughout the United States, it distributes products within an approximate 900-mile radius of its Oklahoma facility. Orchard Paper products are sold under customers private labels, and to a lesser extent, under the Company’s brand names, such as Colortex and Velvet.
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