Integral Technologies Inc. has raised $5.7 million in a private placement and filed provisional domestic patents on 31 electronic applications incorporating its Electriplast technology.
On Jan. 21, the company said it sold 57,115 units at $100 each to a Boston-based investment manager. Each unit consists of 100 newly issued shares of Integral common stock and a warrant for 30 shares.
Uses of the technology include antennas, shielding, lighting circuitry, switch actuators, resistors, medical devices, thermal management units and cable connector bodies incorporating the Bellingham firm's electrically conductive, resin-based material.
Integral is identifying corporate partners to help commercialize the product, said William Robinson, Integral chairman.
The Electriplast polymer, on which a patent application is pending, is based on Integral's research and development of its Plastenna technology. The material is electrically conductive, as if it were metal.
The formulation is conductively loaded or doped with a proprietary concentration. The material within each pellet is homo- genized using conventional molding techniques and equipment. Molded parts can take a variety of shapes and sizes.
Integral, which trades on Nasdaq as an over-the-counter Bulletin Board stock, has retained Wells Fargo & Co.'s securities group for advice and investment banking, and Seattle law firm Preston Gates and Ellis LLP for counsel on potential mergers and acquisitions.