Stock Sale Raises $72.5 Million for Elma, N.Y.-Based Aerospace Firm Moog Inc.

Byline: David Robinson

Sep. 18--Moog Inc.'s stock sale was a big hit.

The Elma aerospace company was able to raise an extra $9.5 million by selling more shares than initially planned, bringing its total proceeds from the secondary offering to $72.5 million, the firm said Wednesday.

Moog, which will use the proceeds to pay for part of its $169 million acquisition of Northrop Grumman Corp.'s Poly-Scientific division, originally had expected to raise $63 million by selling 1.75 million shares of its Class A common stock.

But because demand was strong enough, the company was also able to sell an extra 262,500 shares, boosting Moog's proceeds …