Zecotek Photonics Raises $3.5M

Zecotek Photonics Inc. has sold more than 5.9 million shares of company stock at a price of 58 cents a share to raise approximately $3.5 million, the company said Wednesday.

The sale increases the nonbrokered private placement the company announced on Aug. 20 by an additional $260,000 to a total of $3,460,824. Zecotek said it will use the funds to complete the transfer of technology for commercialization, strengthen its IP portfolio, and finance purchase orders and general working capital needs.

In June, the company announced it raised $2.4 million (See: Zecotek Raises $2.4M in Private Placement).

Founded in 2004, Zecotek Photonics develops scintillation crystals, photodetectors, positron emission tomography scanning technologies, 3-D autostereoscopic displays and lasers for medical, high-tech and industrial applications under three divisions: Imaging Systems, Laser Systems and 3-D Display Systems.

For more information, visit: www.zecotek.com