The Special Committee of the Board of Directors of PASSUR Aerospace, Inc. (OTC: PSSR.OB) retained Capstone Partners as its financial advisor in connection with a private placement of common stock.
The $10 million placement was financed by a cash investment by certain investors and the conversion of debt by the company’s Chairman, G.S. Beckwith Gilbert.
The proceeds from the financing were used to reduce the company’s debt.
Capstone Partners provided the Special Committee with an opinion that the consideration paid for the common stock was fair to the company.
PASSUR Aerospace, Inc. is a leading provider of business intelligence and predictive analytics solutions primarily to the aviation industry.
