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Article: Veri-Tek International, Corp. Announces Closing of $9.0 Million Private Placement.
- Article from:
- PR Newswire
- Article date:
- September 11, 2007
CopyrightCOPYRIGHT 2007 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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BRIDGEVIEW, Ill., Sept. 11 /PRNewswire-FirstCall/ -- Veri-Tek International, Corp. ("Veri-Tek" or the "Company") announced today that it has closed the $9.0 million private placement of its common stock to certain institutional investors. Pursuant to the terms of the Securities Purchase Agreement entered into among the Company and certain institutional investors on August 30, 2007, Veri-Tek has sold 1,500,000 shares of its common stock for $6.00 per share, resulting in total proceeds before placement agent fees and other offering expenses of $9.0 million to the Company. The proceeds from this private placement will be used to reduce a portion of the Company's debt.
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