By Sheri Kasprzak
New York, May 4 - Lightspace Corp. wrapped a private placement for $3,751,507.
The company issued 586,173 units at $6.40 each.
The units consist of eight shares and eight warrants exercisable at $1.00 each, two warrants exercisable at $1.25 each and two warrants exercisable at $1.63 each.
Griffin Securities, Inc. was the placement agent.
Proceeds will be used for the acquisition of the emagipix technology from Illumination Design Works, Inc. for $1.25 million. The remainder will be used for working capital.
Boston-based Lightspace develops interactive light-based technologies.
| Issuer: | Lightspace Corp.
|
| Issue: | Units of eight shares and 12 warrants
|
| Amount: | $3,751,507
|
| Units: | 586,173
|
| Price: | $6.40
|
| Warrants: | 12 warrants per unit
|
| Warrant strike price: | $1.00 for eight warrants, $1.25 for two warrants, $1.63 for two warrants
|
| Placement agent: | Griffin Securities, Inc.
|
| Settlement date: | April 30
|
| Stock symbol: | OTCBB: LGTS
|
| Stock price: | $1.25 at close April 30
|
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