TechnoConcepts wraps $5.8 million private placement

By Sheri Kasprzak

Atlanta, Nov. 18 - TechnoConcepts Inc. said Thursday it has raised $5.8 million in a private placement.

The company's spokeswoman, Beverly Jedynak, did not return phone calls for additional details on the deal by press time Thursday.

According to a statement released by TechnoConcepts, details will be available in a form 8-K it plans to file shortly with the Securities and Exchange Commission.

"The new capital will accelerate the commercialization of our TSR technology to meet pending product applications," said TechnoConcepts' chairman and chief executive officer Antonio Turgeon in a statement.

Duncan Capital LLC was placement agent in the deal.

TechnoConcepts is a wireless software radio company based in Thousand Oaks, Calif. The company's stock closed up $0.10 at $3.80 Thursday.

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