QualityStocks would like to highlight CUI Global (NASDAQ: CUI), dedicated to maximizing shareholder value through the acquisition and development of innovative companies and technologies. From its Vergence GasPT2 platform targeting the energy sector, to its subsidiary CUI Inc.'s industry leading digital power platform targeting the networking and telecom industries, CUI Global has built a diversified portfolio of industry leading technologies that touch many markets.
In the company’s news last week, CUI Global Inc. announced it is now listed and trading on the NASDAQ exchange, and presided over the NASDAQ closing bell ceremonies on Friday. In conjunction with the listing, the company also announced it has raised equity of $10 million with assistance of its US Investment Banker, Merriman Capital Inc. (MERR) and its London advisor, Prosdocimi Ltd.
CUI Global said it will use the proceeds for working capital to pay down and retire certain corporate debt as well as rapidly bring to market its new Vergence™, Novum ™, and Solus ™ Technologies.
“This equity raise and the up-listing represent significant milestones for CUI Global and its shareholders,” CUI Global president and CEO William Clough stated in the press release. “These funds will enable us to retire yet more debt and to dramatically speed up the development and commercialization of our leading-edge natural gas and electronics technologies.”
Clough said listing on a national exchange enables CUI Global to broaden its shareholder base and increase visibility for company achievements. The listing also reflects collaborative efforts to advance the company in the marketplace.
“With the support of our shareholders, the assistance of Merriman Capital and Dorian Prosdocimi in Europe, and the tireless efforts of our entire team, we have successfully taken this company to the next level of its development; thus, continuing our strategy of retiring debt, increasing revenues, and enhancing shareholder value,” Clough stated.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
