Infodata Announces Successful IPO
Infodata (Fairfax, VA) has announced the results of its recent IPO. The offering, announced and filed back in December, netted approximately $6.5 million, at a $5.00 asking price on 1.6 million shares of common stock. Underwriters for the offering were Southeast Research Partners and GKN Securities. The proceeds will be used for sales and marketing, R&D, repayment of debt and working capital. In related news, Infodata has also announced that it has petitioned the SEC for continued posting on the Nasdaq stock exchange.