RiT Technologies negotiates $5 million at-the-market stock offering

Maxim Group assists in raising funds for general corporate purposes

By Devika Patel

Knoxville, Tenn., May 21 - RiT Technologies Ltd. arranged a $5 million at-the-market offering of its ordinary stock on May 21, according to a prospectus supplement and 6-K filed Tuesday with the Securities and Exchange Commission.

Maxim Group LLC is the agent and will be paid a 3.5% commission.

Proceeds will be used for general corporate purposes, which may include working capital, research and development expenses, development and commercialization of the company's indoor optical wireless technology, strategic acquisitions and investments and general and administrative expenses.

Based in Tel Aviv, Israel, RiT Technologies is a producer and supplier of infrastructure management and asset management solutions for improved control, utilization and maintenance of networks and datacenters.

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