Aegis Assessments to raise $5 million in private placement of stock

By Sheri Kasprzak

Atlanta, Nov. 17 - Aegis Assessments Inc. said Wednesday it is planning to raise $5 million in a private placement.

Cogent Capital Corp. has been retained as placement agent for the deal.

"We're just working that out," said Greg Kofford, Cogent's president, when asked about the pricing details of the deal. "We're still trying to determine some things, but we'll probably have pricing details by the end of the week."

Cogent will also help Aegis as it prepares to list its stock on the American Stock Exchange.

"The move to AMEX is part of our long-term financial plan to increase liquidity and value for our shareholders and to attract institutional investors," said Aegis chief executive officer Eric Johnson in a statement.

The company's stock is currently traded on the over-the-counter bulletin board.

Aegis is a Scottsdale, Ariz.-based homeland defense contractor. It plans to use the proceeds from the private placement to expand its production capabilities, establish a distribution channel for its products, hire additional sales personnel and meet requirement for acceptance on the American Stock Exchange.

On Nov. 16, the company's stock closed at $1.55.

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