Three-Five Systems Files for 2.6 Million Public Offering

Microdisplay manufacturer Three-Five Systems, Inc. (Tempe, AZ) has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 2,600,000 shares of its common stock, on a split adjusted basis.

The offering is being made through an underwriting group managed by Banc of America Securities LLC, Needham & Company, Inc., and ING Barings. Three-Five has granted the underwriters an option to purchase up to an additional 390,000 shares of common stock solely to cover over-allotments, if any.

The number of shares registered pursuant to this offering is adjusted for a three-for-two stock split to be effected in the form of a stock dividend on or about May 12, 2000 to stockholders of record on May 1, 2000.

The company plans to use the net proceeds to increase its manufacturing capacity through the expansion of facilities and the acquisition of equipment; to fund the continued development of its LCoS(TM) microdisplay technology and to develop new display or display-related technologies; and to provide additional working capital to finance the expansion of its business.

Edited by Kristin Lewotsky