New Issue: Procera Networks raises $4.61 million in private placement of shares

By Sheri Kasprzak

Atlanta, Jan. 4 - Procera Networks Inc. said it closed a private placement of shares for $4.61 million.

On Dec. 30, the company sold 5,762,500 shares at $0.80 each to institutional and accredited investors. The shares were sold at a 54% discount to the company's closing stock price on Dec. 29.

The investors in the offering also received warrants for 1,728,750 shares at $1.25 each and warrants to buy 1,728,750 shares at $1.37 each. Both sets of warrants expire in three years.

Seidler Cos. and Pacific Wave Capital were the placement agents in the deal.

Procera, based in Campbell, Calif., produces network management equipment for internet service providers and other companies.

Issuer:	Procera Networks Inc.
Issue:	Stock
Amount:	$4.61 million
Shares:	5,762,500
Price:	$0.80
Warrants:	For a total of 3,457,500 shares
Warrant expiration:	Three years
Warrant strike price:	$1.25 for 1,728,750 shares and $1.37 for 1,728,750 shares
Placement agent:	Seidler Cos. and Pacific Wave Capital
Settlement date:	Dec. 30
Stock price:	$1.86 at close Dec. 30

© 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.