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Sevcon Inc announces terms of rights offering to its stockholders


Tuesday, 29 Jul 2014 01:29pm EDT 

Sevcon Inc:Announces terms for its pending rights offering for shares of convertible preferred stock.Rights offering is intended to raise $10 mln before expenses in a cost-effective manner that gives all of Sevcon's existing stockholders the opportunity to participate.Net proceeds will be used for general corporate purposes and growth, including funding Sevcon's ongoing research and development and product commercialization initiatives and acquisitions of other businesses. 

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