Circuit Tester Raises $40,000 in Stock Sale
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Final Test Inc. of Dallas has raised $40,000 through the sale of common stock to increase its shareholders’ equity to meet the minimum requirement to trade on the National Assn. of Securities Dealers, according to a filing with the Securities and Exchange Commission.
NASDAQ told Final Test that its shareholders equity for the quarter ended March 31 had fallen below the $375,000 minimum needed to trade on the board. The association gave the company 15 days to raise its equity.
The tester of computer circuit boards sold 77,659 common shares for a total of $40,000 on May 20, raising its equity to $375,483. The company said it plans to sell an additional 19,417 common shares for $10,000.
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