OREM, Utah-Q Comm International Inc. has closed on its previously announced public offering of 1.1 million units, which priced at $13 per unit yielded gross proceeds of $14.3 million.
The company followed the financial news with the announcement it has placed an order to begin production of 5,000 new Qxpress 200 point-of-sale activation (POSA) terminal units. The company plans to deploy the new units this fall, more than doubling the number of Qxpress 200 terminals in operation.
“Q Comm is now a stronger company,” said Paul Hickey, chief executive officer of Q Comm. “The proceeds of the public offering enable us to significantly increase production and placement of our Qxpress terminals to satisfy existing demand in the U.S. and internationally.”
