New Issue: Hughes Telematics completes $15.39 million private placement of stock

By Devika Patel

Knoxville, Tenn., May 17 - Hughes Telematics Inc. settled a $15.39 million private placement of shares on May 13, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company sold 5,130,500 common shares at $3.00 apiece.

Proceeds will be used for general corporate purposes.

Based in Atlanta, Hughes develops and manages vehicle- and driver-centric solutions to improve the driving and ownership experience.

Issuer:	Hughes Telematics Inc.
Issue:	Common shares
Amount:	$15,391,500
Shares:	5,130,500
Price:	$3.00
Warrants:	No
Settlement date:	May 13
Stock symbol:	OTCBB: HUTC
Stock price:	$2.95 at close May 13
Market capitalization:	$85.2 million

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