Del Global Technologies Corp. Files Registration Statement for Rights Offering

BAY SHORE, N.Y.--(BUSINESS WIRE)--Del Global Technologies Corp. (OTCBB:DGTC) (“Del Global” or “the Company”) today announced that it filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) for a rights offering to its existing shareholders. The rights offering will be made through the distribution of non-transferable subscription rights to purchase shares of the Company’s common stock, par value $0.10 per share, at a subscription price to be determined. Assuming the rights offering is fully subscribed, the Company will receive gross proceeds of approximately $15 million, less expenses of the rights offering. The Company filed this rights offering to raise equity capital in a cost-effective manner that gives all of Del Global’s shareholders the opportunity to participate. The net proceeds will be used for potential working capital needs and general corporate purposes. The Company may use a portion of the proceeds to acquire or invest in businesses, products and technologies complementary with our existing businesses. However, we have no current agreements nor are we in serious discussions to acquire or invest in any business, product or technology.