NUR Macroprinters Receives Additional $2.5 Million of Equity Funding
Press release from the issuing company
February 12 -- NUR Macroprinters, a supplier of wide-format inkjet production printers for the printing industry for a variety of applications, today announced the completion of a follow-on investment in a private placement of ordinary shares, resulting in gross proceeds of $2.5 million, thereby increasing the gross proceeds from the private placement reported on January 30, 2007 to $6.3 million.
Under the follow-on private placement, NUR issued 4,629,630 of its ordinary shares at $0.54 per share to various investors. NUR expects to receive from the follow-on investment proceeds in the amount of approximately $2.4 million, net of expenses, thereby increasing the net proceeds from the private placement reported on January 30, 2007 to $6.1 million. NUR also issued to the investors in the follow-on investment warrants to purchase up to 1,388,889 ordinary shares at an exercise price of $0.65 per share. The warrants are exercisable for five years from the closing date of the private placement.
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