UniTek Global Services, Inc. Files S-1 Registration Statement to Raise Up to $75 Million in a Common Stock Offering

BLUE BELL, Pa., Aug. 16 /PRNewswire-FirstCall/ -- UniTek Global Services, Inc. ("UniTek" or the "Company") (OTC Bulletin Board: UGLB), today announced that it has filed an S-1 Registration Statement with the Securities and Exchange Commission for the offering of up to $75 million of its common stock.  UniTek expects to sell its common stock in an underwritten public offering through Roth Capital Partners.  

The number of shares to be offered and the price range of the offering have not yet been determined.  UniTek intends to use the proceeds from the proposed offering to repay certain indebtedness and the remainder for working capital and other general corporate purposes.

The Company has also announced that it will be filing an application to list its common stock on the NASDAQ Global Market. The NASDAQ listing application will be subject to review and approval by NASDAQ's Listing Qualifications Department to ensure compliance with all NASDAQ Global Market Standards. While the Company intends to satisfy all of NASDAQ's requirements for initial listing, no assurance can be given when or that its application will be approved. The Company's common stock will continue to trade on the OTC Bulletin Board under its current symbol, UGLB, during the NASDAQ review process.

A registration statement relating to the common stock has been filed with the Securities and Exchange Commission but has not yet become effective. The common stock may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering shall be made only by means of a prospectus. Once available, a preliminary prospectus relating to these securities may be obtained from Roth Capital Partners, LLC, 24 Corporate Plaza, Newport Beach, CA 92660 or by email at [email protected] or by fax at (949) 720-7227.

About UniTek Global Services

UniTek Global Services is a provider of engineering, construction management and installation fulfillment services to companies specializing in the telecommunications, broadband cable, wireless and satellite industries. UniTek has created a scalable operating platform, enabling each UniTek subsidiary to deliver quality services to its Fortune 200 customers. UniTek, based in Blue Bell, PA, utilizes a diverse workforce of over 5,200 deployed throughout over 102 locations in the United States and Canada.  

Forward Looking Statements

The Company may from time to time make written or oral "Forward-looking statements", including statements contained in this release and in the Company's filings with the Securities and Exchange Commission. These forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, estimates, and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company's control. These risks and uncertainties include the risk that the registration statement never becomes effective and we are not able to conduct any offering of securities in connections with the registration statement, as well as other risk factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. The words "may", "could", "should", "would", "believe", "anticipate", "estimate", "expect", "intend", "plan", and similar expressions are intended to identify forward-looking statements. All such statements are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company does not undertake to update any forward-looking statement, whether written or oral, which may be made from time to time by or on behalf of the Company, except as may be required by applicable law or regulations.

SOURCE UniTek Global Services, Inc.