Offering sells 149,534 of the company's common shares at $3.35 apiece
By Devika Patel
Knoxville, Tenn., Nov. 21 - Tel-Instrument Electronics Corp. settled a $500,000 private placement of stock with one investor on Nov. 8, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 149,534 common shares at about $3.35 per share. The price per share is a 15.19% discount to the Nov. 7 closing share price, $3.95.
Tel-Instrument makes avionics test and measurement solutions and is based in Carlstadt, N.J.
| Issuer: | Tel-Instrument Electronics Corp.
|
| Issue: | Common stock
|
| Amount: | $500,000
|
| Shares: | 149,534
|
| Price: | $3.35 (approximate)
|
| Warrants: | No
|
| Settlement date: | Nov. 8
|
| Stock symbol: | NYSE: TIK
|
| Stock price: | $3.95 at close on Nov. 7
|
| Market capitalization: | $9.49 million
|
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