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- Pivotal Systems Corporation (PVS) has entered a trading halt today as it plans for an upcoming capital raise
- Currently it is unknown how much the company is aiming to raise or where the funds will be spent
- Trading in company shares will be paused until Thursday, July 22, or when more information about the raise is released to the market
- On the market, Pivotal last traded at $1.40 per share on July 19
Pivotal Systems Corporation (PVS) has entered a trading halt today as it plans for an upcoming capital raise.
It is currently unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Thursday, July 22, or when more information about the raise is released to the market.
Pivotal Systems provides gas flow monitoring and control technology platform for the global semiconductor industry.
Last month, the company’s Chief Financial Officer, Dennis Mahoney, took medical leave and stepped down from his role.
PVS is now looking for a replacement, but CEO John Hoffman said that in the meantime the company had appointed Corporate Controller Michael Bohn as Acting Chief Financial Officer.
“We are deeply saddened that Dennis has to go on a medical leave,” Mr Hoffman said.
“At this time, we have promoted Michael Bohn to the role of Acting Chief Financial Officer of the company. Michael has done exceptional work in all areas of finance during his long career and especially while he has been our controller.”
On the market, Pivotal last traded at $1.40 per share on July 19.
