By Sheri Kasprzak
New York, March 27 - ai Ltd. said it closed an A$6,204,000 private placement of stock.
The company sold 18.8 million shares at A$0.33 each.
The proceeds from the deal will be used for acquisitions and working capital.
ai has also granted options to its executive directors for 6 million shares in two tranches. The first tranche will be priced at A$0.35 and the second at A$0.40. The options are exercisable for five years.
Based in Perth, Western Australia, ai is an automotive press manufacturing and painting company.
| Issuer: | ai Ltd.
|
| Issue: | Stock
|
| Amount: | A$6,204,000
|
| Shares: | 18.8 million
|
| Price: | A$0.33
|
| Warrants: | No
|
| Settlement date: | March 27
|
| Stock symbol: | Australia: AIE
|
| Stock price: | A$0.37 at close March 27
|
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