Geotek Plans to Raise $6 Million in Stock Offer
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Geotek Industries, a Chatsworth maker of lasers and electronic products, plans to sell up to 600,000 equity units for $10 each, or $6 million.
Each unit would consist of three common shares of Geotek and one preferred share that is convertible into common stock, Geotek said in a registration filing with the federal Securities and Exchange Commission.
Geotek formerly was part of Patlex Corp. in Chatsworth, but was spun off to Patlex’s stockholders March 3. Patlex collects and invests royalties that it earns from its interest in certain laser patents.
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