By Sheri Kasprzak
New York, June 12 - Adept Technology, Inc. intends to close a $10 million private placement with Crosslink Capital.
Crosslink agreed to buy 731,251 shares at $13.6752 each.
The offering represents 11% of the company's outstanding share capital.
The deal is scheduled to close before July 10.
Once the placement closes, Charles Finnie, general partner at Crosslink, will join Adept's board of directors.
The proceeds will be used for growth initiatives.
Based in Livermore, Calif., Adept designs robotic systems, motion control and machine vision technology for automobiles, consumer electronics and medical applications, among other things.
| Issuer: | Adept Technology, Inc.
|
| Issue: | Stock
|
| Amount: | $10 million
|
| Shares: | 731,251
|
| Price: | $13.6752
|
| Warrants: | No
|
| Investor: | Crosslink Capital
|
| Announcement date: | June 12
|
| Settlement date: | July 10
|
| Stock symbol: | Nasdaq: ADEP
|
| Stock price: | $13.606 at close June 9
|
|
|
© 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.
