Industrial Enterprises raises $5 million from private placements

By Sheri Kasprzak

New York, July 21 - Industrial Enterprises of America Inc. said it has raised $5 million in private placements of equity and convertible debentures over the past four months.

The full details of the financings could not be determined Thursday, but the proceeds will be used to acquire Unifide Industries LLC, a company that markets and sells chemical additives, and to invest in existing operations.

Based in Houston, Industrial Enterprises converts hydroflurocarbon gases into refrigerant and propellant products.

On Thursday, the company's stock closed up $0.02 at $0.24.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.