Brijot Imaging Systems Completes Private Placement Offering of $14 Million.Company Secures Financing to Accelerate Growth and Support Strategic Market Opportunities ORLANDO Orlando, city, United States Orlando (ôrlăn`dō), city (1990 pop. 164,693), seat of Orange co., central Fla., in a lake region; inc. 1875. In a citrus fruit and farm area, it is one of the world's most visited vacation spots. , Fla. -- Brijot Imaging Systems, Inc., an industry leader for passive millimeter One thousandth of a meter, or 1/25th of an inch. See metric system. wave object detection and people screening technology, announced today the completion of a private placement offering of its Series C Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". in the amount of $14 million. Brijot intends to use the proceeds from the placement to finance the continuing growth of the company. The investment was led by the Company's majority shareholder, BIS Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. Investments Co., a subsidiary of The Exxel Group. "The Company has many exciting growth opportunities underway that require capital investment to accelerate product development and market expansion," said Mitchel J. Laskey, president and chief executive officer at Brijot. "It is extremely gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. to have the continuing confidence of investors like The Exxel Group, with their strategic vision and necessary capital to support our team in the building of a world class business." About Brijot Imaging Systems, Inc. Brijot Imaging Systems, Inc., with corporate and training offices in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. , designs, manufactures and sells an advance millimeter-wave object detection and people screening system known as "BIS-WDS[R] GEN 2." Brijot's unsurpassed technology focuses on meeting security challenges in high threat environments. The company began full-scale manufacturing and distribution of units to customers across the globe in 2006. For more information please visit: www.brijot.com |
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