By Devika Patel
Knoxville, Tenn., March 24 - OCZ Technology Group, Inc. said it raised about $15.45 million in a private placement of stock.
The company sold 5,151,662 common shares.
Investors also received five-year warrants for 2,575,831 shares.
Merriman Curhan Ford was the agent.
Proceeds will be used to support the company's growing solid state drive business.
OCZ is a Sunnyvale, Calif.-based producer of computer memory and components.
| Issuer: | OCZ Technology Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $15.45 million (approximate)
|
| Shares: | 5,151,662
|
| Warrants: | For 2,575,831 shares
|
| Warrant expiration: | Five years
|
| Agent: | Merriman Curhan Ford
|
| Settlement date: | March 24
|
| Stock symbol: | OTCBB: OCZT
|
| Stock price: | $5.25 at close March 23
|
| Market capitalization: | $102 million
|
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