Published on 10/24/2006 in the Prospect News PIPE Daily.
New Issue: Elcom International completes £1.33 million placement of stock
By Sheri Kasprzak
New York, Oct. 24 - Elcom International, Inc. settled a private placement for £1,335,885.
The company sold 76,336,289 shares at 1.75p each with Smith & Williamson Investment Management Ltd.
Proceeds will be used for working capital and general corporate purposes.
Located in Norwood, Mass., Elcom develops technologies used to manage the large-scale exchange of goods and services.
| Issuer: | Elcom International, Inc.
|
| Issue: | Stock
|
| Amount: | £1,335,885
|
| Shares: | 76,336,289
|
| Price: | 1.75p
|
| Warrants: | No
|
| Investor: | Smith & Williamson Investment Management Ltd.
|
| Settlement date: | Oct. 23
|
| Stock symbol: | London: ELC
|
| Stock price: | 3.50p at close Oct. 23
|
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