Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Velti To Sell 16.53 Mln Ordinary Shares At Price Of $1.50/shr

Velti plc (VELT: Quote), a provider of mobile marketing and advertising technology and solutions, announced Friday that it has entered into a securities purchase agreement with certain institutional accredited investors to sell 16.53 million ordinary shares at a price of $1.50 per share.

The aggregate gross proceeds of the offering are $24.8 million.

The company noted that it intends to use the proceeds of the offering to pay certain deferred acquisition consideration totaling approximately $16.5 million relating to its November 2011 acquisition of MIG, and for research and development of the company's technology solutions, working capital, and general corporate purposes.

The company stated that it has agreed to file a registration statement registering the securities for resale.

Click here to receive FREE breaking news email alerts for Velti PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Tuesday after recovering from an initial move to the downside. With the strong upward move on the day, the Dow reached a new record intraday high before giving back some ground. President Barack Obama is scheduled to travel to the headquarters of the Centers for Disease Control and Prevention in Atlanta, Georgia, on Tuesday to outline steps the U.S. will take to help combat the Ebola outbreak in West Africa. Senate Republicans once again voted Monday to block a Democratic bill aimed at narrowing the national gender wage gap. The Senate voted 52 to 40 in favor of limiting debate on the Paycheck Fairness Act, falling well short of the 60 votes required.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.