CUI Global Inc., a platform company engaged in the acquisition, development, and commercialization of innovative technologies, today announced it is now listed and trading on the NASDAQ exchange and will preside over the NASDAQ closing bell ceremonies today at 4 p.m. EST.
In conjunction with the listing, the company also announced it has raised equity of $10 million with assistance of its US Investment Banker, Merriman Capital Inc. (NASDAQ:MERR) and its London advisor, Prosdocimi Ltd.
CUI Global said it will use the proceeds for working capital to pay down and retire certain corporate debt as well as rapidly bring to market its new Vergence™, Novum ™, and Solus ™ Technologies.
"This equity raise and the up-listing represent significant milestones for CUI Global and its shareholders," CUI Global president and CEO William Clough stated in the press release. "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."
Clough said listing on a national exchange enables CUI Global to broaden its shareholder base and increase visibility for company achievements. The listing also reflects collaborative efforts to advance the company in the marketplace.
"With the support of our shareholders, the assistance of Merriman Capital and Dorian Prosdocimi in Europe, and the tireless efforts of our entire team, we have successfully taken this company to the next level of its development; thus, continuing our strategy of retiring debt, increasing revenues, and enhancing shareholder value," Clough stated.
For more information visit www.cui.com
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