Loading
UTEK Corp. will sell roughly 1.5 million shares of common stock to three institutional investors, which will generate $3.8 million in capital for the Tampa firm, minus offering-related expenses.
The company will complete the sale under the name Innovaro (symbol: INV), and then use the proceeds for product development, a release said. The potential for acquiring other businesses was also mentioned.
UTEK markets itself as an innovation solution provider, targeting latent values in client intellectual property and helping to bring products to market.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
