Cambridge Display Technology on Wednesday said it has set a private placement of about 2.19 million shares at a purchase price of $8 per share.

Cambridge Display, a maker of diodes for flat-panel displays, said the agreement with institutional and other investors also includes warrants to purchase up to 656,250 additional shares at an exercise price of $12 per share. The company said it expects to raise $17.5 million from the placement.

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