SEPTEMBER 11--PPT Vision (Minneapolis, MN, USA; www.pptvision.com), which designs, manufactures, and markets camera-based intelligent systems for automated inspection in manufacturing applications, has announced that it closed on a $290,000 private placement of common stock on September 7, 2006, in an effort to further strengthen its balance sheet and provide for future working capital requirements. The private placement was funded by its current largest shareholder, Peter R. Peterson.
In the private placement, the company issued 725,000 shares of common stock at $0.40/share. As a result, Peterson's ownership, including shares held by ESI Investment Co. and the P.R. Peterson Keogh Plan, increased from 2,019,456 shares to 2,744,456 shares. PPT Vision has 4,532,845 shares outstanding after issuance of the shares.
