Good News! About $2M at $1.00 a shares.
Spectrum Signal Processing Completes Cdn$3.0 Million Unit Offering
biz.yahoo.com
Tuesday March 23, 4:00 pm ET
BURNABY, British Columbia--(BUSINESS WIRE)--March 23, 2004--Spectrum Signal Processing Inc. (NASDAQ: SSPI - News; TSX: SSY - News), a leading provider of high performance solutions for wireless signal processing applications, today announced the successful completion of a private placement offering of 2,212,200 Units. The Units were sold for Cdn$1.35 per Unit, for gross proceeds to the company of Cdn$3.0 million (US$2.2 million). The offering was led by GMP Securities Ltd. in an agents' syndicate that included Dlouhy Merchant Group Inc.
The proceeds of the offering will be used to fund the company's restructuring initiatives and for general working capital purposes.
The offered securities have not been, nor will be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. |
