Bookrunners Maxim, Aegis help fund working capital, sales, marketing
By Devika Patel
Knoxville, Tenn., Nov. 13 – COPsync, Inc. said it priced a $10.6 million public sale of stock with a $1.59 million greenshoe. The deal was announced Aug. 18.
The company will sell 3,028,572 common shares and warrants for 3,028,572 shares at $3.49 per share and $0.01 per warrant. The warrants are each exercisable at $3.125 for five years. The strike price is a 30.56% discount to the Nov. 12 closing share price of $4.50. The price per share is a 22.44% discount to that price.
Maxim Group LLC and Aegis Capital Corp. are the bookrunners.
Settlement is expected Nov. 18.
Proceeds will be used for working capital, sales, marketing, product development and network enhancement.
Canyon Lake, Texas-based COPsync is a software provider developing the first real-time, nationwide public safety information sharing network.
| Issuer: | COPsync, Inc.
|
| Issue: | Common stock
|
| Amount: | $10.6 million
|
| Greenshoe: | $1.59 million, or 454,286 shares and 454,286 warrants
|
| Shares: | 3,028,572
|
| Price: | $3.49
|
| Warrants: | For 3,028,572 shares
|
| Warrant price: | $0.01
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.125
|
| Bookrunners: | Maxim Group LLC and Aegis Capital Corp.
|
| Announcement date: | Aug. 18
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 18
|
| Stock symbol: | OTCBB: COYND
|
| Stock price: | $4.50 at close Nov. 12
|
| Market capitalization: | $18.8 million
|
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