New Issue: VirnetX Holding negotiates $6 million private placement of common stock

By Devika Patel

Knoxville, Tenn., Sept. 3 - VirnetX Holding Corp. arranged a private placement of stock for $6 million on Sept. 2, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company will sell 2,380,952 common shares at $2.52 per share. The investors also will receive three series of five-year warrants. The series I warrants, for 2,380,952 shares, are exercisable at $3.93. The series II warrants, for 2,419,048 shares, are exercisable at $0.01. The series III warrants, for 2,380,952 shares, are exercisable at $2.52.

Dawson James Securities, Inc. was the agent.

The communications company is based in Scotts Valley, Calif.

Issuer:	VirnetX Holding Corp.
Issue:	Common stock
Amount:	$6 million
Shares:	2,380,952
Price:	$2.52
Warrants:	For 7,180,952 shares
Warrant expiration:	Five years
Warrant strike price:	$3.93 (series I), $0.01 (series II), $2.52 (series III)
Agent:	Dawson James Securities, Inc.
Pricing date:	Sept. 2
Stock symbol:	Amex: VHC
Stock price:	$3.17 at close Sept. 2
Market capitalization:	$110 million

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