Spectra7 Micro (TSE:SEV) has released an update.
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Spectra7 Microsystems Inc. has successfully completed the second tranche of its non-brokered private placement, raising approximately $1.8 million, bringing the total to around $12.6 million for the two tranches. The company, known for its high-performance analog semiconductors, will use the proceeds for working capital and general corporate purposes. Each unit sold includes a common share and a warrant, giving investors the right to purchase additional shares until 2029 under certain conditions.
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