Advanced photonix completes private offering

Advanced photonix completes private offering


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Advanced Photonix Inc., a Camarillo maker of photodetector devices that convert light into electronic signals, said it has completed a $4.5-million private offering of common stock. The


company plans to use the proceeds to retire debt and for working capital. The so-called private placement was managed by the investment firm D. H. Blair & Co. The offering consisted of


45 units priced at $100,000 apiece. Each unit consists of 33,334 shares of Advanced Photonix stock and 33,334 warrants that entitle the holders to buy additional shares under certain


conditions.