Packaging
Friday 07. September 2012

Adept Technology Announces $8 Million Private Placement

Adept Technology, Inc. (Nasdaq:ADEP), a leading provider of intelligent vision-guided and autonomous mobile robotic solutions, has entered into an agreement to sell 8,000 shares of its Series A Convertible Preferred Stock, par value $.001 per share, at a purchase price of $1,000 per share to affiliates of Hale Capital Partners, LP for a total of $8,000,000. Adept has the ability to issue up to an additional $1,500,000 of shares of Series A Convertible Preferred Stock to other buyers subject to certain conditions. The shares sold would be convertible into shares of Adept’s Common Stock at a conversion price of $4.60 per share. Subject to the satisfaction of customary conditions and lender and Nasdaq approval, the sale of shares is expected to close mid-September, 2012.

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