By Sheri Kasprzak
New York, Dec. 27 - InPlay Technologies Inc. said it has completed a private placement for $3,500,002.
The company sold 1,272,728 shares at $2.75 each.
The investors also received warrants for 381,818 shares, exercisable at $3.44 each for five years.
Proceeds will be used for working capital and general corporate purposes.
Roth Capital Partners, LLC was the placement agent.
Phoenix-based InPlay develops electronic switch technologies used in personal computers and peripherals.
| Issuer: | InPlay Technologies Inc.
|
| Issue: | Stock
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| Amount: | $3,500,002
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| Shares: | 1,272,728
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| Price: | $2.75
|
| Warrants: | For 381,818 shares
|
| Warrant expiration: | Five years
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| Warrant strike price: | $3.44
|
| Placement agent: | Roth Capital Partners, LLC
|
| Settlement date: | Dec. 27
|
| Stock price: | $2.81 at close Dec. 27
|
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