Published on 2/26/2010 in the Prospect News PIPE Daily.
New Issue: NXT aims to sell £972,603 of ordinary stock through private placement
By Devika Patel
Knoxville, Tenn., Feb. 26 - NXT plc said it will take in £972,603 in a private placement of shares.
The company will sell 7,481,561 ordinary shares 13p per share.
Proceeds will be used to repay the company's £15 million bridging loan and restore the its cash resources.
Based in Cambs, England, NXT develops and licenses audio and touch technologies.
| Issuer: | NXT plc
|
| Issue: | Ordinary shares
|
| Amount: | £972,603
|
| Shares: | 7,481,561
|
| Price: | 13p
|
| Warrants: | No
|
| Pricing date: | Feb. 26
|
| Stock symbol: | London: NTX
|
| Stock price: | 13.81p at close Feb. 26
|
| Market capitalization: | £21.5 million
|
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