The amount it plans to raise through the IPO has increased. The original targeted amount was $100 million.
The company filed to raise the funds by offering 8.8 million shares of common stock at a proposed price range of $16 to $18 a share. The company plans to use the proceeds to pay outstanding indebtedness, accumulated dividends and unpaid dividends as well as for working capital and general corporate purposes, according to the report.
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