Published on 8/4/2005 in the Prospect News PIPE Daily.
New Issue: Intelli-Check sells $4.96 million of stock in private placement
New York, Aug. 4 - Intelli-Check, Inc. said it priced a $4.96 million private placement of common stock.
The company sold 1,240,000 shares at $4.00 each to accredited investors. The buyers will also receive warrants for a further 496,000 shares, exercisable at $5.40 per share.
JMP Securities LLC was placement agent for the deal, which is expected to close this week.
Intelli-Check is a Woodbury, N.Y., provider of technology to verify identification cards.
| Issuer: | Intelli-Check, Inc.
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| Issue: | Stock
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| Amount: | $4.96 million
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| Shares: | 1,240,000
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| Price: | $4.00
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| Warrants: | For 496,000 shares
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| Warrant strike price: | $5.40
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| Placement agent: | JMP Securities LLC
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| Pricing date: | Aug. 4
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| Stock price: | $4.71 at close Aug. 4.
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