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Adept Technology Inc Announces Closing of Private Placement

Tuesday, 18 Sep 2012 04:05pm EDT 

Adept Technology Inc announced the closing of its private placement of 8,000 shares of its Series A Convertible Preferred Stock to affiliates of Hale Capital Partners, LP for total gross proceeds of $8,000,000. The shares sold are convertible into shares of Adept's Common Stock at a conversion price of $4.60 per share. Adept intends to use the net proceeds from this sale of shares for general corporate purposes, including funding growth of its mobile and packaging business, and the possible reduction of its debt. 

Company Quote

-0.33 -3.40%
23 Jul 2014