Published on 1/13/2006 in the Prospect News PIPE Daily.
New Issue: Corac settles £1.13 million private placement of stock
By Sheri Kasprzak
New York, Jan. 13 - Corac Group plc said it has completed a private placement of stock for £1,129,248.
The company sold 3,528,900 shares at 32p each to institutional investors.
Proceeds will be used for working capital.
Based in London, Corac develops high-speed electrical direct drive turbo machinery with a focus on manufacturing a no-oil turbo compressor.
| Issuer: | Corac Group plc
|
| Issue: | Stock
|
| Amount: | £1,129,248
|
| Shares: | 3,528,900
|
| Price: | 32p
|
| Warrants: | No
|
| Settlement date: | Jan. 13
|
| Stock symbol: | London: CRA
|
| Stock price: | 34p at close Jan. 12
|
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