By Sheri Kasprzak
Atlanta, March 23 - Envesta Telecom plc said it has completed a private placement of stock for £1 million.
The company sold 17,391,304 shares at 5.75p each to Legal & General Investment Management Ltd.
Following the offering, Legal & General owns 7.04% of Envesta's common stock.
Envesta has filed an application that would allow the shares to be traded on the London Stock Exchange's AIM Exchange.
Based in London, Envesta is a telephony provider. The company plans to use the proceeds from the deal to fund growth.
| Issuer: | Envesta Telecom plc
|
| Issue: | Stock
|
| Amount: | £1 million
|
| Shares: | 17,391,304
|
| Price: | 5.75p
|
| Warrants: | No
|
| Investors: | Legal & General Investment Management Ltd.
|
| Settlement date: | March 23
|
| Stock price: | 6.73p at close March 22
|
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