By Sheri Kasprzak
New York, March 2 - Traffic Technologies Ltd. closed a private placement for A$13 million.
The company sold 35,135,135 shares at A$0.37 each to institutional and sophisticated investors.
The offering was conducted to provide enough funding to begin the company's acquisition of Aldridge Traffic Group.
Austock Corporate Finance Ltd. was the placement agent.
Based in Victoria, Australia, Traffic develops sensors for traffic lights.
| Issuer: | Traffic Technologies Ltd.
|
| Issue: | Stock
|
| Amount: | A$13 million
|
| Shares: | 35,135,135
|
| Price: | A$0.37
|
| Warrants: | No
|
| Placement agent: | Austock Corporate Finance Ltd.
|
| Settlement date: | March 2
|
| Stock symbol: | Australia: TTI
|
| Stock price: | A$0.405 at close March 2
|
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