By Sheri Kasprzak
Atlanta, April 1 - Ace*Comm Corp. said it has wrapped up a private placement for $2.5 million.
The company sold 1 million units at $2.50 each
The units are comprised of one share and one half-share warrant. The full warrants allow for an additional share at $3.53 each.
The investors also have an additional investment right to buy an additional unit under the same terms.
Based in Gaithersburg, Md., Ace*Comm provides operations support systems for communications networks. The proceeds will be used for acquisitions.
| Issuer: | Ace*Comm Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | $2.5 million
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| Units: | 1 million
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| Price: | $2.50
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| Warrants: | One half-share warrant per unit
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| Warrant strike price: | $3.53
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| AIRs: | One additional unit for each unit sold
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| AIRs price: | $2.50
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| AIRs warrant price: | $3.53
|
| Settlement date: | April 1
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| Stock price: | $3.18 at close March 31
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