San Diego-based 5Barz International Inc., which produces wireless communications infrastructure, said in a Nov. 17 securities filing that it raised $3.45 million by selling 23 million shares at 15 cents per share. The business sold the shares between March 6 and Nov. 14.
5Barz (OTCQB: BARZ) also said that it raised $48,750 by issuing 325,000 units, consisting of one share of stock and a warrant to acquire a second share at 30 cents.
The company creates booster technology for strengthening weak cellular signals. Shares of 5Barz closed up slightly more than 8 percent at 13 cents per share.