Deal sells 209,700 shares to fund working capital, corporate purposes
By Devika Patel
Knoxville, Tenn., June 13 – Document Security Systems, Inc. arranged a $301,968 registered direct offering of shares with a $301,968 greenshoe on June 12, according to a prospectus supplement filed Friday with the Securities and Exchange Commission.
The company will sell 209,700 common shares at $1.44 per share. The price per share is a 10% discount to the June 11 closing share price of $1.60.
Settlement is expected June 13.
Proceeds will be used for working capital and other general corporate purposes.
Document Security is a Rochester, N.Y., developer of security systems to protect documents from unauthorized scanning, copying, and digital imaging.
| Issuer: | Document Security Systems, Inc.
|
| Issue: | Common shares
|
| Amount: | $301,968
|
| Greenshoe: | $301,968
|
| Shares: | 209,700
|
| Price: | $1.44
|
| Warrants: | No
|
| Pricing date: | June 12
|
| Settlement date: | June 13
|
| Stock symbol: | NYSE: DSS
|
| Stock price: | $1.60 at close June 11
|
| Market capitalization: | $71.4 million
|
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