By Sheri Kasprzak
New York, Feb. 6 - MFRI, Inc. wrapped a $20.165 million direct placement.
The company sold 1.09 million shares at $18.50 each in the deal.
The shares were sold under the company's shelf registration.
Lane Capital Markets, LLC was the placement agent.
Proceeds will be used for general corporate purposes.
Based in Niles, Ill., MFRI makes industrial filtration products, specialty piping and leak-detection systems.
| Issuer: | MFRI, Inc.
|
| Issue: | Stock
|
| Amount: | $20.165 million
|
| Shares: | 1.09 million
|
| Price: | $18.50
|
| Warrants: | No
|
| Placement agent: | Lane Capital Markets, LLC
|
| Settlement date: | Feb. 6
|
| Stock symbol: | Nasdaq: MFRI
|
| Stock price: | $19.21 at close Feb. 5
|
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