PokerTek Makes ICP Electronics a ShareholderPokerTek and ICP Electronics Create Stronger Ties |
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Automated poker table manufacturers, PokerTek Inc., the publicly traded company, (NASDAQ symbol PTEK), has announced that ICP Electronics Inc., which is listed on the Taiwan stock exchange, is due to become a shareholder in the company.
ICP has provided electronic design and engineering services to PokerTek, and Acting Chief Executive Officer of the poker company, Mark Roberson, said the two companies had previously discussed stronger ties.
A stock purchase agreement has been signed by both companies, agreeing to two-year extended payment terms for two-player poker table products made by ICP.
PokerTek, which around this time last year secured a $5 million loan to help grow the company, says it will issue 565,000 shares at 85 cents each “as soon as practicable”. The company’s shares rose one penny to 72 cents in regular trading, and 7 cents to 79 cents in extended trading.
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