Volt Power Group (ASX:VPR) completed the acquisition of 4D Delta as well as a previously disclosed AU$4 million share placement, according to a filing with the Australian Securities Exchange on Thursday.
The firm had agreed to acquire 4D Delta for an upfront consideration of AU$7.3 million, payable AU$3.6 million in cash and AU$3.6 million settled via the issue of around 26.9 million fully-paid Volt shares at AU$0.135 per share.
It had also received commitments to raise AU$4 million at AU$0.135 per share via a conditional placement to institutional and sophisticated investors, per an earlier filing.
Its shares jumped 7% in recent trading on Thursday.