Twintec AG (XTRA:TIN) announced a private placement of 1,380,000 bearer shares at €1 per share for gross proceeds of €1,380,000 on July 17, 2014. Roger Kavena, Chief Operating Officer and Director of the company subscribed for 200,000 shares. Returning investors Perseus, L.L.C. and the Kavena family also participated in the transaction along with new investors. Post transaction the company will have 32,287,500 issued bearer shares.

On July 17, 2014, Twintec AG closed the transaction.