FTG CEO Acquires Preferred Shares


Reading time ( words)

Firan Technology Group Corporation announces Brad Bourne, president and CEO, has acquired by private purchase beneficial ownership of 1,775,000 voting convertible Series 1 preferred shares of FTG for aggregate consideration of $1,065,000. The Offeror also holds 414,600 common shares of FTG, 425,000 options to acquire Common Shares and 60,000 performance share units of FTG.

The Preferred Shares represent 100% of the class of outstanding voting convertible Series 1 Preferred Shares of the Issuer. Assuming conversion of the Preferred Shares, Options and the PSUs held by the Offeror, the Offeror would hold 2,674,600 Common Shares, representing approximately 13.3% of the then issued and outstanding Common Shares.

The securities were acquired for investment purposes. While the Offeror does not intend to acquire further securities of FTG at this time, he may in the future convert the Preferred Shares or acquire or dispose of other securities of FTG, through the market, privately or otherwise, as circumstances or market conditions warrant.

About FTG

Firan Technology Group is a leading North American manufacturer of high-technology PCBs and precision illuminated display systems. FTG has manufactured complex mil-spec and specialty printed circuit boards for the Telecom, Medical, Avionics, Military, and Advanced Test markets for over three decades. Their commitment to innovation and one-on-one partnering assures a level of service and quality that customers demand, while quick-turn prototype and production runs guarantee on-time delivery. With facilities in Canada, and representation in the U.S. and Europe, FTG provides a broad range of integrated design and manufacturing services in a one-stop-shop offering.

Share


Suggested Items

Groundbreaking Developments at liloTree

11/09/2017 | Patty Goldman, I-Connect007
I was introduced to liloTree and Chief Scientist Kunal Shah by Joe Fjelstad. It seems this small company (with Intel as part of its pedigree) has developed a novel ENIG process that just may shake up the regular chemistry suppliers. This new process is described as cost-effective and ecofriendly while completely eliminating black pad and brittle solder joints.

Leveraging Industry Shows to Create a Presence

11/07/2017 | Patty Goldman, I-Connect007
At the recent SMTA International show in Rosemont, Illinois, I had an opportunity to meet with Mark Osborn, president and owner of Colonial Circuits, based in Fredericksburg, Virginia. Colonial Circuits is a supplier of PCBs, mainly for the defense industry.

New I-Connect007 Team Members Tour American Standard Circuits

11/06/2017 | Kiersten Rohde and Jonathan Zinski, I-Connect007
Recently, Anaya Vardya, CEO of American Standard Circuits, invited two of I-Connect007’s newest team members, IT coordinator Jonathan Zinski and Editor Kiersten Rohde, to tour his facility in West Chicago, Illinois. Happy Holden, resident PCB expert, also joined the newbies on their field trip to ASC. In the following articles, Jonathan and Kiersten describe their experience touring ASC. Special thanks to Anaya for hosting the I-Connect007 team.



Copyright © 2017 I-Connect007. All rights reserved.