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Technology / AI and automation


Ramtron International Corp, Colorado Springs, Colorado ferro-electric memory chip maker, reports that it has raised $30m of equity in a private placing of preferred stock and the conversion of existing debt with two major shareholders. The placing of 1.6m shares of Series B convertible preferredstock at $9 per share raised $15m and was handled by Lehman Brothers Inc. The conversion involved $14.8m of debt held by Oren Benton of Denver, and the National Electric Benefit Fund. They received total of 1.6m additional Series B preferred shares.

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