"Significantly improving our financial structure and stability."?
Nur Macroprinters has announced that the previously announced $12 million private placement to a group of investors led by Fortissimo Capital has been completed. In addition, all the conditions to the closing of the previously announced restructuring of Nur's outstanding bank debt have now been met.
"These transactions significantly improve our financial structure and stability," says David Amir, Nur's president and CEO. "The company is now ready to exploit its full potential. We believe that the combination of our product portfolio, technological leadership, and financial strength positions Nur on track to achieve its business objectives."
The purchase price of $12 million will be payable in three installments: The first Fortissimo installment of $5 million was paid in late October; the second installment, also of $5 million, is due January 29, 2006; and the final $2 million installment is scheduled for October 31, 2006.