Published on 3/1/2007 in the Prospect News PIPE Daily.
New Issue: Nova Measuring Instruments secures $5 million from stock sale
By Sheri Kasprzak
New York, March 1 - Nova Measuring Instruments Ltd. plans to complete a $5 million private placement.
The company has entered into agreements with investors to sell 1,937,984 shares at $2.58 each. The share price represents the average price of the company's stock over the past 70 days.
The investors also will receive warrants for 1,453,488 shares, exercisable at $3.05 each.
Nova, based in Rehovot, Israel, develops metrology products.
| Issuer: | Nova Measuring Instruments Ltd.
|
| Issue: | Stock
|
| Amount: | $5 million
|
| Shares: | 1,937,984
|
| Price: | $2.58
|
| Warrants: | For 1,453,488 shares
|
| Warrant strike price: | $3.05
|
| Settlement date: | March 1
|
| Stock symbol: | Nasdaq: NVMI
|
| Stock price: | $2.99 at close Feb. 28
|
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