Preferred Stock Offerings
By Ru Back Packer Staff, updated Thursday, February 1, 2:44 AM
Slide #395. Adept Technology, Inc. — Preferred Stock Offering
||Adept Technology, Inc. (ADEP)
|Price Per Share:
|Preferred Stock Offering Details:
||Adept Technology, Inc. announced the closing of its private placement of 8,000 shares of its Series A Convertible Preferred Stock to affiliates of Hale Capital Partners, LP for total gross proceeds of $8,000,000. The shares sold are convertible into shares of Adept's Common Stock at a conversion price of $4.60 per share.
Adept Technology is a robotics-based automation supplier. Co. designs and manufactures industrial (fixed) and mobile robots along with a complementary suite of control and vision systems and software which are used for assembly, packaging, handling, testing and logistics applications in both fixed repetitive and unstructured environments. These products are provided to Co.'s customers along with a range of service and support options. Co.'s services include on-site field service, training courses, applications support, field upgrades, factory repair and remanufactured products. Co. operates in two segments: Robotics and Services and Support.
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