MDU Communications plans $15 million private placement of units

By Sheri Kasprzak

Atlanta, Nov. 16 - MDU Communications International Inc. said Tuesday it plans to raise $15 million in a private placement.

The company said it plans to sell units of common stock and warrants to accredited investors.

Additional details about the deal were not available at press time Tuesday.

MDU is a Totowa, N.J.-based digital satellite provider for multi-dwelling units. The company plans to use the proceeds from the financing for general corporate purposes, including supporting growth.

On Tuesday, the company's stock closed down $0.03 at $2.84.

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