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ParkerVision raises $15 million in stock offering

posted: 85 DAYS 13 HOURS AGO

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JACKSONVILLE, Fla. -ParkerVision Inc., which develops wireless radio frequency technologies, said Monday it has raised nearly $15 million in a stock offering.

The Jacksonville, Fla., company said it closed an offering of 8 million shares at $2 per share.

Net proceeds from the sale after underwriting discounts, commissions and other expenses were about $14.6 million. ParkerVision plans to use the proceeds for working capital and other general corporate purposes, including financing research and sales and marketing.

Piper Jaffray & Co. acted as the sole underwriter and manager for the offering.

Shares rose 17 cents, or 8.2 percent, to $2.25 in afternoon trading.

2009-11-16 14:36:30

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