Units sold at $0.25 apiece; greenshoe partially exercised for $77,813
By Devika Patel
Knoxville, Tenn., Dec. 9 - Rackwise, Inc. completed a $5.08 million private placement of units on Dec. 5, according to an 8-K filed Friday with the Securities and Exchange Commission. The offering priced for $5 million with a $1 million greenshoe on Nov. 21.
The company sold 20,311,251 units of one common share and a half-share warrant at $0.25 per unit. Of the units, 311,251 were part of the partially exercised greenshoe.
The warrants will be exercisable at $0.625 for five years. The strike price is a 7.76% premium to the Nov. 18 closing share price of $0.58.
San Francisco-based Rackwise produces software.
| Issuer: | Rackwise, Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $5,077,813 (including $77,813 greenshoe exercise)
|
| Units: | 20,311,251
|
| Price: | $0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.625
|
| Pricing date: | Nov. 21
|
| Settlement date: | Dec. 5
|
| Stock symbol: | OTCBB: RACK
|
| Stock price: | $0.58 at close Nov. 21
|
| Market capitalization: | $89.45 million
|
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