By Sheri Kasprzak
New York, Aug. 9 - Ionatron, Inc. concluded a $26,543,753 private placement.
Seventeen institutional investors bought 4,616,305 shares at $5.75 each and received warrants for 923,260 shares.
The warrants are exercisable at $9.15 each for five years.
Of the investors, six participated in the company's October 2005 $18 million preferred stock offering.
J. Giordano Securities Group was the placement agent.
Proceeds from the deal will be used to develop the company's laser-guided energy and laser-induced plasma channel technologies. The rest will be used to strengthen the company's balance sheet for short- and long-term objectives.
Based in Tucson, Ariz., Ionatron develops directed-energy weapon technologies.
Issuer: | Ionatron, Inc.
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Issue: | Stock
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Amount: | $26,543,753
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Shares: | 4,616,305
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Price: | $5.75
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Warrants: | For 923,260 shares
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Warrant expiration: | Five years
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Warrant strike price: | $9.15
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Placement agent: | J. Giordano Securities Group
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Settlement date: | Aug. 8
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Stock symbol: | Nasdaq: IOTN
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Stock price: | $8.32 at close Aug. 8
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