FARMINGDALE, N.Y.--(BUSINESS WIRE)--Cemtrex, Inc. (NASDAQ: CETX, CETXP, CETXW), a leading technology and manufacturing company, announced today the pricing of its previously announced underwritten public offering of 1,000,000 shares of common stock at a public offering price of $1.65 per share for total gross proceeds of $1,650,000. The net proceeds, after underwriting discounts and estimated expenses of the offering payable by Cemtrex, are expected to be approximately $1,482,500. Cemtrex also granted the underwriter an option for a period of 45 days to purchase up to an additional 15% of the aggregate number of shares of common stock to be sold in the offering. The offering is expected to close on or about August 24, 2018, subject to the satisfaction of customary closing conditions.

Cemtrex intends to use the net proceeds from the offering to further its development, sales and marketing of the SmartDesk, its proprietary advanced technology workspace solution, and for general corporate purposes.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

This press release does not constitute an offer to sell or solicitation of an offer to buy any securities in the offering. Nor shall there be any sale of these securities in any state or jurisdiction in which such offering, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Cemtrex

Cemtrex, Inc. is the manufacturer of the SmartDesk, a highly advanced workstation. Cemtrex is a diversified technology company that’s driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions and intelligent security systems. For more information, visit us at www.cemtrex.com.