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Article: Path 1 Network Technologies Inc. Announces Completion of $13.5 Million Initial Public Offering and Move to AMEX.
- Article from:
- PR Newswire
- Article date:
- July 31, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Path 1 Network Technologies Inc. announced that it effected today its previously announced initial public offering. Paulson Investment Company, Inc. was the lead underwriter.
In the IPO, Path 1 sold 1,250,000 units. The units were priced at $10.80 per unit, yielding gross proceeds of $13,500,000. The units began trading today on the American Stock Exchange under the symbol PNO.u, together with the Company's common stock that now trades under the AMEX symbol PNO. Each unit consists of three shares of common stock and two warrants. Each warrant represents the right to buy one share of common stock for an exercise price of $5.40.
"This funding and our ...