Tuesday, July 17, 2001 | 10:49 a.m.
VendingData Corp. of Las Vegas announced it has received $9.4 million in financing through a rights offering.
The financing was underwritten by James Crabbe, the company's controlling stockholder. All holders of stock, vested options, warrants and convertible debentures received the right to purchase two shares of stock for 35 cents per share for each share held. Any rights not exercised will be purchased by Crabbe upon the expiration of the exercise period.
Proceeds will be used for working capital and to pay off all short-term debt, Chief Executive Steven Blad said.
VendingData is a manufacturer and distributor of automatic card shufflers and slot accounting systems.
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