CUI Inc’s parent company, CUI Global, Inc. announced that the company is now listed and trading on the NASDAQ Capital Market. In conjunction with that listing, the company has completed a $10,000,000 equity raise with the assistance of its US Investment Banker, Merriman Capital, Inc. and its London advisor, Prosdocimi Ltd.
The proceeds of the raise will be used by the company for working capital; to pay down and retire certain corporate debt; and to rapidly bring its new Vergence™, Novum® Advanced Power, and Solus™ Power Topology Technologies to the marketplace.
In celebration of the listing, the company, its officers and directors, along with shareholders, presided over the NASDAQ closing bell ceremonies on Friday, February 17, 2012.
“This equity raise and the up-listing represent significant milestones for CUI Global and its shareholders,” remarked the company’s president and CEO, William Clough. “These funds will enable us to retire yet more debt and to dramatically speed up the development and commercialization of our leading-edge natural gas and electronics technologies.”
“Our listing on a national exchange as prestigious as the Nasdaq Capital Market will broaden our shareholder base and increase visibility for our achievements moving forward,” concluded Clough.