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Espial announces closing of its initial public offering

Fri, 06/08/2007 - 7:35am
Brian Santo

Espial completed its initial public offering of 3,571,000 common shares at a price of $7.00 a share, for a total of about $25 million. Espial specializes in IPTV middleware and applications.

GMP Securities L.P. and Genuity Capital Markets acted as co-lead underwriters for the offering. The underwriters have options to purchase additional shares that could bring the total investment in Espial to approximately $28.8 million.

Following the offering, James Meenan was appointed to the board of directors of Espial.  Meenan had a 30-year career with AT&T. He has also served on the board of Rogers Wireless in Canada.

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