Datum Nets $12.7 Million in Stock Offering
Datum Inc., a maker of timing products for telecommunications networks, said that it has received $12.7 million as its share of the proceeds from a public offering of 1.3 million shares of its stock.
The company plans to use the proceeds for general corporate purposes. Datum issued 900,000 new shares, and major shareholder Efratom Holding Inc. sold 400,000 shares. The stock sold at $15 a share.