TransAKT takes in $1.2 million through private placement of shares

Company offers 39.85 million shares at 40% discount to closing price

By Devika Patel

Knoxville, Tenn., May 24 - TransAKT Ltd. completed a $1.2 million private placement of stock on May 17, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company sold 39,854,567 common shares at $0.03 per share. The price per share reflects a 40% discount to the May 16 closing share price of $0.05.

TransAKT is a telecommunications company in Taipei, Taiwan.

Issuer:	TransAKT Ltd.
Issue:	Common stock
Amount:	$1,195,637
Shares:	39,854,567
Price:	$0.03
Warrants:	No
Settlement date:	May 17
Stock symbol:	Pink Sheets: TAKD
Stock price:	$0.05 at close May 16
Market capitalization:	$11.72 million

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