Agent Barrington Research helps sell 1,141,000 class A common shares
By Devika Patel
Knoxville, Tenn., Oct. 4 - Digital Cinema Destinations Corp. said it plans a $5.71 million registered direct offering of stock. Barrington Research Associates, Inc. is the agent.
The company will sell 1,141,000 class A common shares at $5.00 per share, which is a 15.97% discount to the Oct. 3 closing share price of $5.95.
Settlement is expected Oct. 9.
Proceeds will be used for general corporate purposes, which may include debt repayment, capital expenditures, acquisitions of additional membership interest units in the company's joint venture, Start Media/Digiplex, LLC, acquisitions or business expansions, working capital and ongoing operating expenses and overhead.
Based in Westfield, N.J., Digital Cinema is dedicated to transforming its movie theaters into interactive entertainment centers.
| Issuer: | Digital Cinema Destinations Corp.
|
| Issue: | Class A common stock
|
| Amount: | $5,705,000
|
| Shares: | 1,141,000
|
| Price: | $5.00
|
| Warrants: | No
|
| Agent: | Barrington Research Associates, Inc.
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 9
|
| Stock symbol: | Nasdaq: DCIN
|
| Stock price: | $5.95 at close Oct. 3
|
| Market capitalization: | $36.41 million
|
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