Oklahoma Briefs

 
No Author Published: September 3, 2009   

Orchids closes stock sale

PRYOR — Orchids Paper Products Co. has closed the sale of an additional 112,500 shares of its common stock at the public offering price of $18.50 per share. The shares were issued pursuant to the over-allotment option granted to Stephens Inc. as underwriter in Orchids’ previously announced offering of 750,000 shares of common stock completed on Aug. 26. The company received about $2 million from the sale of the additional shares. The earlier sale generated about $12.8 million. Orchids plans to use the money to build a warehouse, to buy and install a converting line, and for general corporate purposes.

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