- Spectra7 Microsystems (SEV) has announced a private placement for gross proceeds of $5.89 million
- The company will issue 5,890,000 units priced at $1.00 per unit
- A.G.P./Alliance Global Partners will act as the placement agent for the private placement in the U.S.
- Spectra7 Microsystems Inc. is an analog semiconductor company serving tier-one consumer electronics and data center infrastructure companies
- Spectra7 Microsystems Inc. (SEV) opened trading at C$1.18
Spectra7 Microsystems (SEV), a provider of semiconductor products, announced a private placement or aggregate gross proceeds of $5.89 million.
Under the offering, the company will issue 5,890,000 units priced at $1.00 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of $1.18 for a period of five years from the closing of the offering.
Warrants are subject to an acceleration clause.
The net proceeds will be used for working capital and general corporate purposes.
Closing of the offering is subject to all necessary regulatory and stock exchange approvals.
A.G.P./Alliance Global Partners will act as the placement agent for the private placement in the U.S.
Spectra7 Microsystems Inc.
Spectra7 Microsystems Inc. is an analog semiconductor company delivering bandwidth, speed, and resolution to enable disruptive industrial design for electronics manufacturers in data centers, 5G infrastructure, virtual and augmented reality, and other connectivity markets. Spectra7 is based in San Jose, California, with a design center in Cork, Ireland and a technical support location in Dongguan, China.
Spectra7 Microsystems Inc. (SEV) opened trading at C$1.18.