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NAC Global Technologies aims to price public offering of common shares
Funds used to repay $375,000 12% convertible notes, repay other notes
By Devika Patel
Knoxville, Tenn., Dec. 15 – NAC Global Technologies, Inc. will conduct a public sale of its common stock with a 45-day greenshoe option, according to a Form S-1 filed Monday with the Securities and Exchange Commission.
Alexander Capital, LP is the bookrunner.
Proceeds will be used to repay $375,000 of the company’s 12% convertible promissory note issued on April 29, repay each of the $50,000 convertible notes issued on Sept. 9 and Oct. 3 and for general corporate purposes, including working capital, product development, marketing activities, expanding the company’s internal sales organization, developing sales channels, capital expenditures and potential acquisitions or investments.
The Jacksonville, Fla., company makes and sells harmonic gearing technology, which is of importance in the automation, robotics and defense industries.
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