By Sheri Kasprzak
New York, July 21 - Raptor Networks Technology Inc. said it has raised another $285,000 from its previously announced private placement of up to $6.5 million.
The company sold a total of 142,500 units to private accredited investors at $2.00 each.
The units include four shares and one series G warrant for 142,500 shares, exercisable at $2.50 each for five years.
The latest closing is the seventh in the financing round for total proceeds so far of $2.42 million.
The offering is ongoing.
Based in Santa Ana, Calif., Raptor Networks develops software for the education, government and corporate 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: | $285,000
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| Units: | 142,500
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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: | July 15
|
| Stock price: | $0.58 at close July 15
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