Ibis seeks to raise $5M via share sales

February 21, 2007 – Ibis Technology Corp., a supplier of SIMOX-SOI implantation equipment, says it has signed definitive agreements with several institutional investors to raise $5.0 million in equity capital, via sale of common stock and five-year warrants. The deal is still pending shareholder approval.

The first closing on Feb. 20, raising $2.2 million, was to involve the sale of approximately 1.4 million common shares (@ $1.48/share), and approximately 1.05 million warrants ($0.12/share) that would be used to purchase additional common shares with an exercise price of $1.50 per share.

The second closing, anticipated to occur on May 10, will raise another $3.1 million through the sale of approximately 2.0 million common shares (also $1.48/share), and approximately 1.5 million warrants (also $0.12/share), and also with a exercise price of $1.50/share.


Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.