February 21, 2017 / 6:21 PM / 6 months ago

BRIEF-LSI Industries says acquires Atlas Lighting Products

Feb 21 (Reuters) - LSI Industries Inc:

* LSI Industries Inc Acquires Atlas Lighting Products, Inc

* Terms of agreement include a cash payment of $96.9 million

* Terms of agreement include 200,000 five-year warrants to purchase LSI's common stock at an exercise price of $9.95

* LSI intends to keep Atlas brand

* Funding for deal to be provided by combination of cash on hand, $66 million from new $100 million commercial bank facility provided by PNC Bank

* Intend to maintain Atlas facility in Burlington, NC

* Anticipate acquisition will be accretive to LSI's results beginning in fiscal 2018

* Anticipate "significant cost synergies" with the acquisition Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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