Nestor to raise up to $15 million in stock offering

By Sheri Kasprzak

New York, Dec. 7 - Nestor, Inc. said it plans to raise up to $15 million and at least $5 million in a private placement of stock.

The pricing details of the offering have not yet been determined. According to a statement from the company, the deal will be priced according to market conditions.

The deal is expected to wrap either later this month or in January 2006.

Based in Providence, R.I., Nestor manufactures video-based traffic safety products. On Wednesday, the company's stock lost $0.28 to close at $5.41.

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