By Sheri Kasprzak
Atlanta, Dec. 16 - Commtouch Software Inc. said late Wednesday it has closed a private placement for $3.19 million, more than the previously announced $2.1 million offering.
The company sold 6.38 million series A preferred shares at $0.50 each.
The original offering announced Nov. 1 called for the sale of 4.2 million preferreds at the same price but came with an option to sell up to 6.6 million preferreds.
The preferreds are convertible into common shares, but full details of the deal were not available Thursday.
The company also repaid $3 million in convertible notes.
In exchange for the cancellation, Commtouch will issue about 3.3 million common shares at a conversion price of $0.90.
Mountain View, Calif.-based Commtouch develops anti-spam technology.
| Issuer: | Commtouch Software Inc.
|
| Issue: | Shares of series A preferred stock
|
| Amount: | $3.19 million
|
| Shares: | 6.38 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Announcement date: | Nov. 1
|
| Settlement date: | Dec. 15
|
| Stock price: | $0.50 at close Nov. 1
|
| Stock price: | $0.50 at close Dec. 15
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
