By Sheri Kasprzak
New York, May 17 - DynTek, Inc. completed a private placement of stock in two tranches for total proceeds of $1,905,044.
The company issued a total of 95,252,200 shares at $0.02 each.
In the first closing, DynTek issued 37,957,000 shares and in the second, 57,295,200 shares.
The investors received warrants for a total of 19,050,440 shares, exercisable at $0.02 each.
Network 1 Financial Securities, Inc. was the placement agent.
The proceeds will be used for general corporate purposes.
Based in Irvine, Calif., DynTek provides professional technology services like voiceover internet protocol services to mid-market clients like state and local governments and educational institutions.
| Issuer: | DynTek, Inc.
|
| Issue: | Stock
|
| Amount: | $1,905,044
|
| Shares: | 95,252,200
|
| Price: | $0.02
|
| Warrants: | For 19,050,440 shares
|
| Warrant strike price: | $0.02
|
| Placement agent: | Network 1 Financial Securities, Inc.
|
| Settlement date: | May 15
|
| Stock symbol: | OTCBB: DYTK
|
| Stock price: | $0.04 at close May 15
|
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