New Issue: Arotech plans direct placement of stock for $1.27 million

By Sheri Kasprzak

Atlanta, May 17 - Arotech Corp. said it has arranged a direct placement of stock for $1,275,500.

The company plans to sell 1,275,500 shares at $1.00 each to several institutional investors. The price is a 10% discount to the company's closing stock price on May 16.

The offering is expected to close May 19.

Based in Auburn, Ala., Arotech manufactures vehicle armor, zinc-air batteries and fuel cells for the law enforcement and military sectors.

Issuer:	Arotech Corp.
Issue:	Stock
Amount:	$1,275,500
Shares:	1,275,500
Price:	$1.00
Warrants:	No
Pricing date:	May 17
Settlement date:	May 19
Stock price:	$1.03 at close May 17

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