By Sheri Kasprzak
New York, Oct. 4 - Raptor Networks Technology, Inc. said it has completed three more tranches of its ongoing private placement for $1.75 million, bringing to $5,308,500 the total proceeds raised from the deal.
In the 11th tranche, completed Aug. 31, the company sold 181,250 units at $2.00 each.
The units include four shares and one series G warrant. The warrants are exercisable at $2.50 each for five years.
In the 12th tranche, closed on Sept. 16, the company issued 137,500 units at $2.00 each, and in the 13th tranche, wrapped Sept. 30, the company sold 556,250 units under the same terms.
The company has closed 10 other rounds of the financing. The first was closed April 29 for $507,000, under the same terms. The second wrapped May 16 for $430,000; the third on May 31 for $285,000; the fourth on June 10 for $465,000; the fifth on June 15 for $131,000; the sixth on June 30 for $312,500; the seventh on July 15 for $285,000; the eighth on July 29 for $400,000; the ninth on Aug. 22 for $305,000; and the 10th on Aug. 25 for $437,500.
The financing is an ongoing offering for proceeds of up to $20 million.
Based in Santa Ana, Calif., Raptor develops switching hardware and software for the education, government and telecommunications sectors.
11th tranche
| Issuer: | Raptor Networks Technology, Inc.
|
| Issue: | Units of four shares and one series G warrant
|
| Amount: | $362,500
|
| Units: | 181,250
|
| Price: | $2.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.50
|
| Settlement date: | Aug. 31
|
| Stock price: | $0.52 at close Aug. 31
|
|
|
| 12th tranche
|
| Issuer: | Raptor Networks Technology, Inc.
|
| Issue: | Units of four shares and one series G warrant
|
| Amount: | $275,000
|
| Units: | 137,500
|
| Price: | $2.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.50
|
| Settlement date: | Sept. 16
|
| Stock price: | $0.51 at close Sept. 16
|
|
|
| 13th tranche
|
| Issuer: | Raptor Networks Technology, Inc.
|
| Issue: | Units of four shares and one series G warrant
|
| Amount: | $1,112,500
|
| Units: | 556,250
|
| Price: | $2.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.50
|
| Settlement date: | Sept. 30
|
| Stock price: | $0.60 at close Sept. 30
|
|
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