National Storm Management to raise $1 million in private placement

By Sheri Kasprzak

New York, Sept. 8 - National Storm Management, Inc. said it has already received $500,000 from a private placement and expects to raise another $500,000.

The full details of the offering could not be determined Thursday.

The company, however, expects to receive the remaining $500,000 in proceeds by Sept. 15.

The proceeds from the offering will be used for expansion into Florida.

Based in Glen Ellyn, Ill., National Storm Management is a holding company for contractors.

On Thursday, the company's stock lost $0.24, or 16.11%, to close at $1.25.

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