By Devika Patel
Knoxville, Tenn., June 30 - Voxware, Inc. said it plans to raise $2.5 million in a private placement of stock.
The company will sell 1,428,571 common shares at $1.75 each.
The investors also will receive warrants for 142,857 shares, each exercisable at $2.50 for three years.
Settlement is expected on June 30.
Based in Lawrenceville, N.J., Voxware develops language interface technologies for industrial uses.
| Issuer: | Voxware, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.5 million
|
| Shares: | 1,428,571
|
| Price: | $1.75
|
| Warrants: | For 142,857 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $2.50
|
| Pricing date: | June 30
|
| Settlement date: | June 30
|
| Stock symbol: | Nasdaq: VOXW
|
| Stock price: | $2.00 at close June 29
|
| Market capitalization: | $11.6 million
|
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