Renar Macas S/a (BOVESPA:RNAR3) announced a private placement of 40,000,000 shares at BRL 0.40 per share for gross proceeds of BRL 16,000,000 on July 5, 2011. The board of the company approved the transaction. On September 30, 2011, the company closed the first tranche of the transaction. The company issued 26,500,000 shares for gross proceeds of BRL 10,600,000. On March 16, 2012, Renar Macas S/a closed the transaction.