Hie Electronics Launches $10M Mixed Offering - cbl

Posted October 13, 2011

By Bill Murphy

McKINNEY, Texas -- Hie Electronics Inc. has raised $50,000 from two investors as it launched a $10 million mixed offering that could be used for an acquisition, according to an SEC filing.

The McKinney-based technology company said the offering is "not primarily made with a business combination transaction in mind" but "may result in one."

Principals named in the filing are:

• Chairman and President Patrick Humm;
• CFO John Sizemore;
• Director William Johnson III;
• Director David Smith;
• Director Philip Coup; and
• Promoter Brett Story of Greenwood Village, Colo.-based Janco Partners Inc., the issue's placement agent.

Jan Helene and Gerard Hallaren are also parties through Janco Partners. Also acting as a placement agent was Wade Myers, managing director of Cherry Tree Companies.

Hie said it would pay sales commission of up to $400,000, representing 6-8 percent of the issue.

Hie Electronics, founded in 2004, develops and makes dense, Blu-ray multi-tiered optical data storage units and enterprise class digital video recorders.

Reg D filing: http://tinyurl.com/5tlsz7b

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