Azure Dynamics to raise C$25 mln via placing

Newswire

Aug 24 (Reuters) - Hybrid electric and electric powertrains maker Azure Dynamics Corp said it has opened a private placement to raise up to C$25 million ($23.65 million), sending its shares 17.24 percent higher in London. The AIM-listed company said it plans to use the net proceeds from the placing of up to 100 million shares at C$0.25 each to fund its ongoing product development and commercialisation efforts as well as general corporate purposes. Azure Dynamics expects the proceeds, ...

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