By Sheri Kasprzak
New York, Dec. 21-Force Protection, Inc. closed a private placement for $152.75 million.
The company sold 13 million shares at $11.75 each to a group of institutional investors.
C.E. Unterberg, Towbin, LLC was the placement agent.
Proceeds will be used for pre-production of the company's new vehicle line, Cheetah, and for the expansion of the company's Buffalo and Cougar vehicles.
Based in Landon, S.C., Force Protection develops ballistic- and mine-protected vehicles used by the U.S. military.
| Issuer: | Force Protection, Inc.
|
| Issue: | Stock
|
| Amount: | $152.75 million
|
| Shares: | 13 million
|
| Price: | $11.75
|
| Warrants: | No
|
| Placement agent: | C.E. Unterberg, Towin, LLC
|
| Settlement date: | Dec. 21
|
| Stock symbol: | OTCBB: FRPT
|
| Stock price: | $14.98 at close Dec. 20
|
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