Volt Power Group Limited (ASX:VPR) announced a private placement of 1,900,000,000 shares at AUD 0.0025 per share for gross proceeds of AUD 4,750,000 on December 18, 2017. The commitments for the transaction were oversubscribed and will include participation from existing and new professional and sophisticated investors. Pursuant to the offering, persons associated with ECM Pty Ltd and Adam Boyd, Chief Executive Officer of the company, have committed to subscribing for an aggregate of AUD 870,000, demonstrating their continued support for the company. The issue of shares to the ECM parties and Adam Boyd will be subject to the company obtaining shareholder approval at a general meeting to be held on or around January 22, 2018. The transaction is expected to close by January 18, 2018, and will be held in escrow.