MTI Technology Completes $20 Million Private Equity Financing Led by Advent International.

MTI Technology has completed a $20 million private equity financing led by Advent International. The company issued 1,582,028 shares of Series B Convertible Preferred Stock at approximately $12.64 per share and warrants for an additional 5,932,587 common shares. Each preferred share is initially convertible into 10 common shares.