By Sheri Kasprzak
New York, May 8 - Avasoft, Inc. concluded a $7.4 million private placement.
The company issued 7.4 million shares in the deal to 340 new accredited and institutional investors.
Brookstreet Securities was the lead agent for the offering.
The company had originally intended to raise just $7 million in the placement.
Proceeds will be used for marketing, operations and general corporate purposes.
Based in Rocklin, Calif., Avasoft develops soft-serve ice cream systems.
| Issuer: | Avasoft, Inc.
|
| Issue: | Stock
|
| Amount: | $7.4 million
|
| Shares: | 7.4 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Agent: | Brookstreet Securities (lead)
|
| Settlement date: | May 8
|
| Stock symbol: | OTCBB: AVAF
|
| Stock price: | $1.05 at close May 7
|
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