By Devika Patel
Knoxville, Tenn., March 3 - BVR Systems (1998) Ltd. said it plans a $3 million private placement of stock and a $2 million 10% convertible loan.
The company will sell its common shares at $0.156 per share.
Both financings were arranged with Milestones Upgrading & Industries Co. Ltd.
Based in Rosh-Ha'ayin, Israel, BVR makes training and simulation systems for military applications.
| Issuer: | BVR Systems (1998) Ltd.
|
| Issue: | Common stock, 10% convertible loan
|
| Amount: | $5 million
|
| Warrants: | No
|
| Investor: | Milestones Upgrading & Industries Co. Ltd.
|
| Settlement date: | March 3
|
| Stock symbol: | OTCBB: BVRSF
|
| Stock price: | $0.11 at close March 2
|
| Market capitalization: | $18.1 million
|
|
|
| Shares
|
| Amount: | $3 million
|
| Price: | $0.156
|
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