Cyalume Technologies Closes $3.5 Million Private Placement
Cyalume Technologies Holdings, Inc. announced today that it has closed the sale of 871,823 shares of common stock to institutional investors in a private placement at a price of $4.60 per share. The consideration paid by investors consisted of approximately $3.5 million in cash and the cancellation of 1,015,000 public warrants, which were valued at $0.50 per warrant.
The Company will use the net proceeds of the private offering to fund general corporate purposes.
Derek Dunaway, President and CEO of Cyalume Technologies, Inc., said, "This investment will bolster our ability to execute on all of the growth opportunities that we are seeing in the ammunition business."
