Offering sells 662,003 of the company's common shares at $5.31 apiece
By Devika Patel
Knoxville, Tenn., May 31 - Asure Software, Inc. arranged a $3.52 million registered direct offering of stock on May 29, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 662,003 common shares at $5.31 per share, which is a 10.76% discount to the May 28 closing share price of $5.95.
Proceeds will be used to make a $2 million principal payment under the company's loan agreement with Deerpath Funding, LP and for general corporate purposes, which may include additional debt repayment.
The company is an Austin, Texas-based provider of cloud-based workforce management solutions.
| Issuer: | Asure Software, Inc.
|
| Issue: | Common stock
|
| Amount: | $3,515,236
|
| Shares: | 662,003
|
| Price: | $5.31
|
| Warrants: | For 2,950,819 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.671
|
| Pricing date: | May 29
|
| Stock symbol: | Nasdaq: ASUR
|
| Stock price: | $5.95 at close May 28
|
| Market capitalization: | $31.31 million
|
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