RICHMOND, British Columbia (March 29)—Wireless tire monitor systems maker SmarTire Systems Inc. completed its private placement worth $6.83 million with the issuance of more than 3.4 million shares of common stock. The placement was completed primarily with European institutional investors and over-subscribed by 14 percent. The proceeds will be used to fund the development and marketing of SmarTire´s products. The shares have not been registered in the U.S. and there are no plans to gain such registration, the company said.
SmarTire completes private placement
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