By Sheri Kasprzak
Atlanta, Oct. 27 - Comtech Group Inc. said Wednesday it raised $8.8 million in a private placement.
The deal consists of 5.04 million shares at $1.75 per share.
The company also intends to sell an additional 1.26 million shares at $1.75 per share for about $2.2 million in a second deal scheduled to close Nov. 4.
C.E. Unterberg, Towbin and W.R. Hambrecht & Co. served as co-lead placement agents in the deal.
Comtech is based in Shenzhen, China, and manufactures mobile handsets and telecommunications equipment. The company plans to use the proceeds from the deal for working capital and general corporate purposes and to make acquisitions.
| Issuer: | Comtech Group Inc.
|
| Issue: | Stock
|
| Amount: | $8.8 million
|
| Shares: | 5.04 million
|
| Price: | $1.75
|
| Warrants: | No
|
| Placement agent: | C.E. Unterberg, Towbin; W.R. Hambrecht & Co.
|
| Settlement date: | Oct. 26
|
| Stock price: | $1.90 at close Oct. 26
|
|
|
| Issue: | Stock
|
| Amount: | $2.2 million
|
| Shares: | 1.26 million
|
| Price: | $1.75
|
| Warrants: | No
|
| Placement agent: | C.E. Unterberg, Towbin; W.R. Hambrecht & Co.
|
| Announcement date: | Oct. 27
|
| Settlement date: | Nov. 4
|
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