By Sheri Kasprzak
New York, Jan. 13 - Tiger Telematics, Inc. said it has raised $2.2 million in private placements during the fourth quarter of 2005.
The company issued 750,000 shares at prices ranging from $1.00 to $6.00 each.
The investors received warrants for 250,000 shares, exercisable at $4.50 each through Dec. 31, 2006.
Proceeds will be used for operating requirements for the company's subsidiary, Gizmondo Europe Ltd.
Tiger Telematics, based in Jacksonville, Fla., designs, develops and markets mobile telematic systems.
| Issuer: | Tiger Telematics, Inc.
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| Issue: | Stock
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| Amount: | $2.2 million
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| Shares: | 750,000
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| Price: | Between $1.00 and $6.00 each
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| Warrants: | For 250,000 shares
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| Warrant expiration: | Dec. 31, 2006
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| Warrant strike price: | $4.50
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| Announcement date: | Jan. 13
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| Stock symbol: | OTCBB: TGTL
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| Stock price: | $2.05 at close Jan. 13
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