By Sheri Kasprzak
New York, Oct. 6 - MathStar, Inc. revealed the particulars on its previously announced $12.57 million private placement.
The company sold 3,142,500 shares at $4.00 each to 22 investors.
The investors received warrants for 1,257,000 shares, exercisable at $6.00 each for five years.
Piper Jaffray & Co. was the placement agent.
Proceeds will be used for the commercialization of the company's Arrix family of Field Programmable Object Arrays products.
Based in Hillsboro, Ore., MathStar develops programmable logic chips called Field Programmable Object Arrays.
| Issuer: | MathStar, Inc.
|
| Issue: | Stock
|
| Amount: | $12.57 million
|
| Shares: | 3,142,500
|
| Price: | $4.00
|
| Warrants: | For 1,257,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $6.00
|
| Placement agent: | Piper Jaffray & Co.
|
| Settlement date: | Sept. 26
|
| Stock symbol: | Nasdaq: MATH
|
| Stock price: | $5.00 at close Sept. 26
|
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