Monotype Imaging Holdings (NASDAQ:TYPE), a provider of typefaces, technology and expertise for creative applications and consumer devices, said Chairman Robert M. Givens will retire as of the day after its 2014 annual meeting of shareholders, which is expected May 5. The company named Robert L. Lentz, a member of its board since August 2008, as its new chairman, effective at the time of Givens’s retirement. Givens is a cofounder and former president and CEO.
After his retirement, Givens will hold the title of chairman emeritus. Shares were inactive pre-market after closing Thursday at $29.74, in a 52-week range of $21.56 to $33.25.
In Other News:
Ocean Power Technologies (NASDAQ:OPTT) shares tumbled in Friday’s pre-market session, after the wave-energy technology company priced a public offering of 3.8 million common shares at $3.10 per share, an 18% discount to the stock’s Thursday closing price. OPTT was down 16% at $3.20 in recent pre-market trading, in a 52-week range of $.46 to $7.01. The company has granted to the underwriters a 30-day option to acquire an additional 570,000 shares to cover overallotments. Net proceeds of the offering are expected at $10.8 million, assuming no exercise of the overallotment option.
The offering is expected to close April 9. The company intends to use the net proceeds for any combination of working capital, capital expenditures, and general business purposes, including additional development, testing and demonstrations of its PowerBuoy systems.
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