Matthews Studio Unit Sale Raises $2.21 Million
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Matthews Studio Equipment Group, a Burbank company that makes, sells and rents camera and lighting gear and other equipment to the entertainment industry, said it completed the sale of 130,000 units in a private placement that raised $2.21 million.
Each unit, priced at $17, consists of four shares of Matthews common stock and one warrant that entitles the holder to buy additional stock at $6.50 per share.
Matthews said the proceeds from the unit sale will be used to acquire equipment.
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