Datum Inc. is planning to sell an additional 1.7 million shares of stock, according to a statement filed with the Securities and Exchange Commission.
The company, which makes instruments for satellite systems and other devices, said proceeds from the offering would be used for general corporate purposes, including possible acquisitions.
The company said it plans to sell 1 million shares, while the remaining 700,000 shares will be offered by stockholders. The total offering could raise as much as $37.4 million, before expenses. Datum will have 5.23 million shares outstanding, the company said.
The stock slipped 25 cents Friday to close at $19.75 per share in Nasdaq trading.