Boo Koo Holdings has announced that it has completed the sale its additional shares of common stock.

The Texas-based company said today (27 September) that it has completed the sale of an additional 2,450,750 shares of common stock at a price of US$1.20 per share for gross proceeds of $2.9m.

The sale was in conjunction with the August private placement of common stock raising gross proceeds of approximately $7.5m through the issuance of 6,252,595 shares of common stock at $1.20 per share, the company said.

Last month, the energy_drinks producer teamed up with financial services company Captech and was renamed Boo Koo Holdings.

Boo Koo's former president Dan Lee took to the helm of Captech, while former Boo Koo CFO Steve Ruffini became CFO for the combined business.