(Updates to add details on issue of fee shares; use of placement proceeds)
LONDON (Thomson Financial) - Immersion Technologies International Plc. said
it has raised 175,000 pounds through a placing of 17.5 million shares at a price
of 1 pence each with certain investors.
After this placing, participants have also been granted one warrant to
subscribe for an additional share in the company for every two new shares
subscribed in the placing.
These warrants are exercisable at 1.5 pence per share for a period of five
years from the date of admission of the placing shares to trading on AIM, the
company added.
The company said it has also issued a further 1.1 million shares in lieu of
fees related to the placing, and added that the recipients of these shares have
been granted warrants on the same basis.
The placing proceeds will be used for its working capital requirement,
Immersion Technologies added.
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