Netter Digital Reaps $3.74 Million From IPO
Netter Digital Entertainment Inc., a North Hollywood digital film production studio, said it has received net proceeds of $3.74 million from an initial public offering of 860,000 shares of common stock--priced at $5 per share--and 430,000 redeemable warrants.
Phoenix-based W.B. McKee Securities Inc. was the managing underwriter.
The proceeds will be used for working capital, to buy equipment and creative rights, set up a merchandising unit and repay loans.
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