By Sheri Kasprzak
Atlanta, Jan. 25 - Next Inc. said it plans to raise $3 million in a private placement of shares.
The offering includes 2.3 million shares at $1.30 each and will be sold to multiple institutional investors.
Dougherty & Co. was the placement agent in the deal.
Based in Chattanooga, Tenn., Next designs, develop, markets and distributes licensed and branded promotional products and imprinted sportswear. The company plans to use the proceeds from the private placement for working capital and business opportunities related to its acquisition of Choice International.
| Issuer: | Next Inc.
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| Issue: | Stock
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| Amount: | $3 million
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| Shares: | 2.3 million
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| Price: | $1.30
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| Placement agent: | Dougherty & Co.
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| Pricing date: | Jan. 25
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| Stock price: | $1.48 at close Jan. 24
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