IntriCon Corp. is planning an underwritten public offering of 1.5 million common shares.
The company plans to use net proceeds to repay debt, fund capital expenditures, and repurchase and retire 500,000 common shares. Funds will also go toward working capital and other general corporate purposes.
Stifel is acting as sole book-running manager of the proposed offering. Underwriters are expected to receive a 30-day option to buy 225,000 additional common shares.
Arden Hills, Minn.-based IntriCon develops body-worn devices for medical, healthcare and professional communications companies.