Costa Mesa-based Ceradyne Inc. said Thursday it plans to raise about $185 million in stock and debt offerings.
The maker of ceramics-based products, including lightweight body armor, said it plans to sell 1.8 million shares,worth about $85 million. The company also plans to sell $100 million in convertible bonds due 2035.
Ceradyne said it could sell another 270,000 shares and $10 million in debt depending on demand.
The company plans to pay off existing debt and use the balance for possible acquisitions and other general corporate purposes.
Analysts have speculated Ceradyne might acquire some companies to fuel growth. The company saw sales rise 67% to $94 million in the third quarter, versus a year earlier. Net income rose 82% to $13 million.
The company’s stock was down more than 3% to $45.90 in afterhours trading.
