By Sheri Kasprzak
New York, Nov. 22 - Raptor Networks Technology, Inc. has settled $187,475 in its previously announced private placement for a total of $7,128,375.
The company issued 93,737.5 units at $2.00 each to private-party investors in the final tranche.
The units include four shares and one series G warrant. The warrants are exercisable at $2.50 each for five years.
The company completed the offering, which had originally been set at $20 million, in 13 tranches since April 29.
Based in Santa Ana, Calif., Raptor develops switching hardware and software for the education, government and telecommunications sectors.
| Issuer: | Raptor Networks Technology, Inc.
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| Issue: | Units of four shares and one series G warrant
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| Amount: | $7,128,375
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| Units: | 93,737.5
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| Price: | $2.00
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| Warrants: | One series G warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $2.50
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| Settlement date: | Nov. 22
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| Stock price: | $0.52 at close Nov. 22
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