By Devika Patel
Knoxville, Tenn., Oct. 25 - Velti plc announced it has taken in approximately £7.5 million in a private placement of shares.
The company sold 3.58 million new ordinary shares at 210p apiece.
Proceeds will be used for development, marketing, advertising, enhancing products and operating infrastructure and working capital.
Based in London, Velti, formerly known as Brightmanner plc, provides mobile software platforms, applications and services for operators and advertising agencies in southeastern Europe, the United Kingdom and the United States.
| Issuer: | Velti plc
|
| Issue: | Ordinary shares
|
| Amount: | £7.5 million (approximate)
|
| Shares: | 3.58 million
|
| Price: | 210p
|
| Announcement date: | Oct. 25
|
| Stock symbol: | London: VEL
|
| Stock price: | 212p at close Oct. 24
|
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