Argan to sell up to $25 million of shares in private placement

By Devika Patel

Knoxville, Tenn., June 20 - Argan, Inc. will sell between $20 million and $25 million of its shares in a private placement, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company expects to use a portion of the proceeds in connection with a planned joint venture with Invenergy Wind LLC to perform engineering, procurement and construction services for wind energy generating facilities, with the remaining proceeds to be used for general corporate purposes.

Based in Rockville, Md., Argan is a holding company for businesses that provide telecommunications infrastructure services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.