Underwriters buy 1.2M additional Flow Int'l shares

Underwriters exercise overallotment in Flow Int'l offering, buy 1.2 million additional shares

• On 10:50 am EDT, Monday September 21, 2009

KENT, Wash. (AP) -- Flow International said Monday the underwriters of its public offering of 7.8 million shares have exercised their overallotment option to purchase an additional 1.2 million shares at $2.10 per share.

The manufacturer of water jet machines for cutting and cleaning applications said net proceeds from the offering, including the overallotment, total about $17.2 million.

Roth Capital Partners LLC was the sole underwriter for the offering.

Flow plans to use the money for the repayment of debt under its credit facility and for general corporate purposes.

Shares of Flow slipped 5 cents, or 1.9 percent, to $2.56 in morning trading.