- Mace raised $8.2 million through a Rights Offering to its existing shareholders completed on August 1, 2011 generating net proceeds of approximately $4.3 million; a Securities Purchase Agreement completed on August 2, 2011 with Merlin Partners, LP and two other investors generating $3.75 million; and through the sales of registered shares not subscribed for in the Rights Offering for an additional $167,000.
- Mace appointed Michael E. Smith as the Company’s interim Chief Executive Officer, effective on August 18, 2011. Mr. Raefield, the Company's former Chief Executive Officer and President, resigned as Chief Executive Officer and a director of the Company after the completion of his employment contract.
- Mace completed the sale of certain assets and liabilities related to its Industrial Vision Source (“IVS”) high-end digital and machine vision camera and professional imaging components operation. The sale, which was completed on October 21, 2011, provided cash proceeds of $517,000 at closing and a possible further payment of $100,000 if certain post closing revenue levels are achieved by the buyer.
Mace Reports Financial Results For The Third Quarter And Nine Months Ended September 30, 2011
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.