Cleantech Invest AG et al. complete $10.35 PIPE deal

Cleantech Invest AG contributed $1m to the private placement. The investors acquired common stock at a premium of $0.125 over Identive's NASDAQ closing share price of $2.40 on November 12 along with warrants to purchase the same amount of common stock, exercisable for a period of five years, with a cash exercise price of $2.65.

The fresh capital should be used to fund Identive's future acquisition and growth activity, as well as general corporate purposes.

Identive Group is a technology company providing products and solutions in the areas of physical and logical access control, identity management and radio frequency identification systems (RFID).

The group operates globally, with corporate headquarters in California and operational headquarters in Ismaning, Germany. Identive targets sales in excess of $80m for 2010.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

 

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