Xenonics and certain of its stockholders have closed the previously announced private placement of an aggregate total of 820,800 shares of Xenonics common stock to institutional investors. The shares were sold at a price of $5.00 per share. As a result, Xenonics received $2.5 million of the offering proceeds and the selling stockholders received approximately $1.6 million of the offering proceeds. Xenonics is a leader in the development and production of advanced, lightweight and compact ultra-high intensity lighting products for military, law enforcement, public safety, and commercial and private sector applications.
Bryant Park Capital acted as co-placement agent for this transaction.