By Laura Lutz
Washington, Dec. 14 - Structural Monitoring Systems plc raised A$3.75 million from a private placement of shares.
The company sold 30 million shares to several new and existing institutional investors for A$0.125 per share.
Proceeds will be used for commercialization and development of the company's structural health monitoring technologies.
Linwar Securities acted as agent for the deal.
Based in Perth, Australia, Structural Monitoring develops technologies to measure structural integrity.
| Issuer: | Structural Monitoring Systems plc
|
| Issue: | Shares
|
| Amount: | A$3.75 million
|
| Shares: | 30 million
|
| Price: | A$0.125
|
| Warrants: | No
|
| Agent: | Linwar Securities
|
| Settlement date: | Dec. 14
|
| Stock symbol: | Australia: SMN
|
| Stock price: | A$0.15 at close Dec. 14
|
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