Published on 4/15/2005 in the Prospect News PIPE Daily.
New Issue: Cellular Technical Services closes $1.43 million private placement
By Sheri Kasprzak
Atlanta, April 15 - Cellular Technical Services Co. Inc. said it has raised $1,425,000 in a private placement.
The company sold 1.9 million shares at $0.75 each to Frost Gamma Investments Trust.
Based in Valley Stream, N.Y., Cellular Technical Services had been in the business of manufacturing and marketing prepaid phone cards but is currently seeking a buyer. At the closing of the private placement, Frost Gamma Investments owns 32% of the company.
| Issuer: | Cellular Technical Services Co. Inc.
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| Issue: | Stock
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| Amount: | $1,425,000
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| Shares: | 1.9 million
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| Price: | $0.75
|
| Warrants: | No
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| Investor: | Frost Gamma Investments Trust
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| Settlement date: | April 12
|
| Stock price: | $0.77 at close April 12
|
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