By Sheri Kasprzak
New York, Dec. 14 - NeoMagic Corp. said it intends to raise $9 million in a private placement.
The offering includes 1.5 million shares at $6.00 each.
The company also intends to issue warrants for 750,000 shares, exercisable at $9.00 each for five years.
The deal is slated to close Dec. 16.
Proceeds will be used for working capital and general corporate purposes.
NeoMagic, based in Santa Clara, Calif., develops multimedia features for handheld devices.
| Issuer: | NeoMagic Corp.
|
| Issue: | Stock
|
| Amount: | $9 million
|
| Shares: | 1.5 million
|
| Price: | $6.00
|
| Warrants: | For 750,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $9.00
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 16
|
| Stock price: | $7.75 at close Dec. 13
|
|
|
© 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.
