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Telestone to Sell $6 Million in Stock
[February 21, 2007]

Telestone to Sell $6 Million in Stock


TMCnet Contributing Editor
 
Telestone Technologies (News - Alert) Corp., a provider of wireless technology coverage solutions to China’s major telecom companies, announced it would shares of common stock and 4-year warrants for $6,025,000 at $11.60 per share. This will allow the company to buy 133,889 shares.


 
The stock sale would be a private placement through the Maxim group, and is expected to generate $5.6 million in revenue for Telestone to be used for general corporate expenses.
 
Telestone Technologies recently announced completion of the comprehensive 3G wireless coverage test using its 3G wireless coverage platform systems. 
 
"We are very proud of the effort our team has achieved in creating this new 3G platform, enabling our customers to benefit from our product both in quality and in cost savings, said Han Daqing, chairman, CEO, and president of Telestone Technologies Corp., in a statement.
 

Beverly Maniago is a contributing editor for TMCnet. To see more of her articles, please visit her columnist page.

 

 



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