MIDDLETOWN, R.I.– Fiber optic and satellite communications developer KVH Industries said today it has completed a private equity financing with sale of 615,384 common shares at $6.50 per share to an institutional investor.
The $4 million sale, completed on Friday, May 25, had been previously approved by KVH’s board of directors and shareholders, the company said. KVH said the total equity raised by the company since December 2000 is $19.5 million. Proceeds from the placement will be used to finance the company’s Photonic Fiber and Mobile Broadband R&D projects, the company said.
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