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ParkerVision raises $15 million in stock offering
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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.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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