Xenonics Closes $2 Million Private PlacementXenonics Holdings, Inc. Press Release
FlashlightNews.org - 2/9/2007
San Diego-based investment fund purchases 1 million shares of company's common stock
Xenonics Holdings, Inc.
CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (AMEX:XNN), a leader in advanced illumination and low-light viewing technologies, announced today that it has closed a private placement with Gemini Master Fund Ltd., San Diego, of 1,000,000 shares of common stock (with A and B warrants) at a price of $2.00 per share for net proceeds of $2,000,000.
"Response to the recent launch of our SuperVision™ digital night viewing device has exceeded our expectations, and we are developing potentially significant distribution channels more rapidly than we anticipated," said Cameron Hopkins, president of Xenonics' SuperVision division. "By increasing our working capital to more than $5,000,000, this transaction positions us to aggressively pursue these growth opportunities," said Chairman Alan Magerman.
Xenonics develops and produces advanced, lightweight and compact ultra-high intensity illumination products for military, law enforcement, public safety, and commercial and private sector applications. Currently, NightHunters are in use by every branch of the U.S. Armed Forces as well as a wide variety of law enforcement and security agencies. Using its breakthrough patented technology, Xenonics provides innovative solutions for customers that demand the ability to see farther so that they can do their job better and safer. Xenonics' products deliver a quantum leap in performance over other illumination technologies and represent the next generation in small, high intensity, high efficiency illumination systems.
Visit Xenonics on the web at www.xenonics.com.