By Sheri Kasprzak
Atlanta, Dec. 21 - Delta Systems Inc. said Tuesday it closed a private placement for $2,999,700.
The company sold 2,727,000 shares at $1.10 each.
The deal was announced Nov. 30 as a $2.5 million offering. On Dec. 14 a syndicate of underwriters led by First Associates Investments Inc. and Westwind Partners Inc. exercised a greenshoe in the deal for an additional $500,000.
Delta is a Rogers, Ark.-based automation software company serving the manufacturing and distribution industries. The proceeds from the deal will be used to support the company's operations.
| Issuer: | Delta Systems Inc.
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| Issue: | Stock
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| Amount: | $2,999,700
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| Shares: | 2,727,000
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| Price: | $1.10
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| Warrants: | No
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| Underwriters: | First Associates Investments Inc. and Westwind Partners Inc.
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| Announcement date: | Nov. 30
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| Settlement date: | Dec. 21
|
| Stock price: | $1.35 at close Nov. 30
|
| Stock price: | $1.25 at close Dec. 20 (last trade)
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