Investor buys 2,000 series F convertible preferreds at $1,000.00 each
By Devika Patel
Knoxville, Tenn., Sept. 9 – ImageWare Systems, Inc. settled a $2 million private placement of 10% series F convertible preferred stock with Cap 1 LLC on Sept. 7, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 2,000 preferreds at $1,000.00 apiece.
Each preferred will convert into common shares at $1.50 per share. The conversion price is a 2.04% premium to the Sept. 6 closing share price of $1.47.
Proceeds will be used for general working capital purposes.
San Diego-based ImageWare provides software-based identity management solutions.
| Issuer: | ImageWare Systems, Inc.
|
| Issue: | Series F convertible preferred stock
|
| Amount: | $2 million
|
| Preferreds: | 2,000
|
| Price: | $1,000.00
|
| Dividends: | 10%
|
| Conversion price: | $1.50
|
| Warrants: | No
|
| Investor: | Cap 1 LLC
|
| Settlement date: | Sept. 7
|
| Stock symbol: | OTCBB: IWSY
|
| Stock price: | $1.47 at close Sept. 6
|
| Market capitalization: | $129.42 million
|
|
|
|
|
© 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.
