4C gets commitments for $20 million tranche of $70 million stock sale

By Devika Patel

Knoxville, Tenn., Aug. 13 - 4C Controls Inc. said it has received commitments for a $20 million initial tranche of a $70 million private placement of restricted stock.

The company is selling restricted common shares.

Proceeds will be used for enhancing the company's operations related to electronic security, access control and surveillance in the Middle East region, setup of the first ground station for receiving and distributing satellite images and general corporate purposes.

Based in New York, 4C Controls is a holding company that provides sophisticated security solutions, particularly in the areas of satellite and electronic surveillance/global access control markets and remote sensing technologies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.