Company filed plans to sell up to $10 million common shares on May 6
By Susanna Moon
Chicago, May 17 – Inventergy Global, Inc. said it priced $1.3 million of common stock and warrants on Monday. The company entered into definitive agreements for the offering with some of its institutional investors. Inventergy registered to sell up to $10 million of stock on May 6.
The registered direct offering priced at $0.125 above the consolidated closing bid price of the common stock on May 13, according to a company press release.
The company will issue 648,000 shares at a price of $2.005 per share and warrants to purchase 648,000 shares with an exercise price of $2.005 per share, exercisable immediately.
The strike price is a 3.35% premium to the company’s closing price on May 13.
Chardan Capital Markets, LLC is the placement agent.
Proceeds will be used for operations and to fund the company’s recently launched Inventergy Innovations subsidiary.
"With this funding and the proceeds from our recent series D preferred stock financing, we believe that we will have sufficient working capital to move our short-term patent monetization opportunities to closure," Joe Beyers, chairman and chief executive officer of Inventergy, said in the press release.
Inventergy Global is an intellectual property company based in Campbell, Calif.
| Issuer: | Inventergy Global, Inc.
|
| Issue: | Stock and warrants
|
| Amount: | $1,299,240
|
| Shares: | 648,000
|
| Price: | $2.005
|
| Warrants: | For 648,000 shares
|
| Warrant strike price: | $2.005
|
| Agent: | Chardan Capital Markets, LLC
|
| Pricing date: | May 16
|
| Settlement date: | May 19
|
| Stock symbol: | Nasdaq: INVT
|
| Stock price: | $1.94 at close May 13
|
| Market capitalization: | $8.47 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
