Boomerang Completes $7 Million Stock Sale

Boomerang Systems Inc., a maker of automated parking systems, has completed the sale of a $7 million private offering of securities to a group of private equity investors. The offering was for the sale of 28,000,000 shares of the Company's Common Stock, $0.001 par value, and an equal amount of Common Stock Purchase Warrants to purchase shares of common stock.

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