By Sheri Kasprzak
New York, Sept. 28 - Tiger Telematics, Inc. said it has closed a $7.7 million private placement of stock.
The company sold 529,890 shares at prices ranging from $5.50 to $20.00 each. The price per share varied as the company's market price fluctuated.
The shares were sold to sophisticated, accredited foreign investors or corporations.
The majority of the proceeds will be used for the company's acquisition of game content for its Gizmondo Europe Ltd. subsidiary. The rest will be used for marketing.
Tiger Telematics, based in Jacksonville, Fla., designs, develops and markets mobile telematic systems.
| Issuer: | Tiger Telematics, Inc.
|
| Issue: | Stock
|
| Amount: | $7.7 million
|
| Shares: | 529,890
|
| Prices: | $5.50 to $20 (depending upon market conditions when issued)
|
| Warrants: | No
|
| Settlement date: | Sept. 28
|
| Stock price: | $13.40 at close Sept. 28
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
