By Sheri Kasprzak
New York, Feb. 8 - Rainmaker Systems, Inc. said it has settled a private placement for $6 million.
The company sold 2 million shares in the offering to new and existing investors at $3.00 each.
The investors received warrants for up to 800,000 shares, exercisable at $4.28 each.
America's Growth Capital was the placement agent.
Proceeds will be used to strengthen the company's balance sheet and provide operating resources to expand the company's volume of business.
Based in Campbell, Calif., Rainmaker Systems provides business-to-business marketing services.
Issuer: | Rainmaker Systems, Inc.
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Issue: | Stock
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Amount: | $6 million
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Shares: | 2 million
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Price: | $3.00
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Warrants: | For up to 800,000 shares
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Warrant strike price: | $4.28
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Placement agent: | America's Growth Capital
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Settlement date: | Feb. 8
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Stock symbol: | Nasdaq: RMKR
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Stock price: | $3.91 at close Feb. 7
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