6th Dec 2018 13:28
LONDON (Alliance News) - Vela Technologies PLC said Thursday it will invest a further USD100,000 into StreamTV Networks Inc, a developer and manufacturer of glasses-free 3D display technologies.
Vela, which invests in early stage and pre-IPO disruptive technology, made the additional injection as part of a USD30 million funding round currently being undertaken by StreamTV.
Vela has subscribed for 66,666 class A common stock in StreamTV at a price of USD1.50 per share. In addition, Vela has been issued a total of 333,335 warrants exercisable at a price of USD1.50 per share.
Following the latest investment, Vela has invested a total of USD200,000 in cash in StreamTV in two funding rounds. It now owns 114,564 shares in StreamTV, equivalent to around 0.19% of the issued share capital of StreamTV and 333,335 warrants.
Shares in Vela were trading 6.4% lower at 0.22 pence each on Thursday afternoon.
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