By Sheri Kasprzak
Atlanta, April 26 - Transol Corp. Ltd. has closed a private placement for A$4 million and said it plans to raise an additional A$2 million in a separate private placement.
The company sold 20 million shares at A$0.20 each.
Transol has already issued 12.9 million shares and the remaining 7.1 million will be issued upon shareholder approval. Utilico Investment Trust plc invested in half of the offering.
Separately, Transol said it plans to raise A$2 million in an offering comprised of 10 million shares at A$0.20 each.
Based in Melbourne, Australia, Transol develops traffic safety products. The company will use the proceeds to expand its presence in the United States, upgrade camera sites and fund development upgrades for its red light and speed camera technologies.
| Issuer: | Transol Corp. Ltd.
|
| Issue: | Stock
|
| Amount: | A$4 million
|
| Shares: | 20 million
|
| Price: | A$0.20
|
| Warrants: | No
|
| Investors: | Utilico Investment Trust plc (for 10 million shares)
|
| Settlement date: | April 26
|
| Stock price: | A$0.23 at close April 26
|
|
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| Issuer: | Transol Corp. Ltd.
|
| Issue: | Stock
|
| Amount: | A$2 million
|
| Shares: | 10 million
|
| Price: | A$0.20
|
| Warrants: | No
|
| Pricing date: | April 26
|
| Stock price: | A$0.23 at close April 26
|
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