Martin Jetpack raises $6.5 mln in oversubscribed private placement

Thu, 11 Sep 2014

By Paul McBeth Sept. 11 (BusinessDesk) - Martin Aircraft Co, which plans to make the world's first commercial jetpack allowing a person to fly, raised $6.5 million in an oversubscribed private placement ahead of plans to take the company public. The Christchurch-based company sold the shares at 30 cents apiece to a mix of sophisticated and high net worth investors, taking its share register to 125, it said in a statement. The offer was $1.5 million more than the original $5 million Martin Aircraft sought, of which $1 million came from an...

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