By Sheri Kasprzak
Atlanta, June 29 - i2 Technologies, Inc. said it has completed a private placement for $15 million.
The company sold 1,923,077 shares at $7.80 each to Q Investments Ltd. The price per share is the company's closing stock price on June 23 when the offering was approved by i2's board of directors.
The investment brings Q Investments' equity holdings in i2 to 7.6 million shares, or 30% ownership.
In other news, the company announced that Pranav Parikh has stepped down as a member of its board of directors. Randy Eisenman has been nominated by Q Investments to the board.
Dallas-based i2 provides services to the supply chain sector.
| Issuer: | i2 Technologies, Inc.
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| Issue: | Stock
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| Amount: | $15 million
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| Shares: | 1,923,077
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| Price: | $7.80
|
| Warrants: | No
|
| Investor: | Q Investments Ltd.
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| Settlement date: | June 29
|
| Stock price: | $7.60 at close June 28
|
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