By Sheri Kasprzak
New York, Feb. 2 - Horizon Technology Group plc said it settled a private placement for €8,478,001.
The company issued 7,372,175 shares at €1.15 each to institutional investors.
The shares sold in the offering represent 10% of the company's outstanding share capital.
Davy Stockbrokers was the placement agent.
Proceeds from the deal, which was oversubscribed, will be used to partially finance the company's acquisition of EquIP Technology Ltd., which was concluded on Thursday.
Dublin-based Horizon integrates and distributes information technology products in the United Kingdom and Ireland.
| Issuer: | Horizon Technology Group plc
|
| Issue: | Stock
|
| Amount: | €8,478,001
|
| Shares: | 7,372,175
|
| Price: | €1.15
|
| Warrants: | No
|
| Placement agent: | Davy Stockbrokers
|
| Settlement date: | Feb. 2
|
| Stock symbol: | ISE: HOR
|
| Stock price: | €1.24 at close Feb. 1
|
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