Investors receive three-year warrants exercisable at $0.80 per share
By Marisa Wong
Madison, Wis., Feb. 10 – root9B Technologies, Inc. received proceeds of $6,145,095 from an equity financing transaction on Feb. 9, according to an 8-K filing with the Securities and Exchange Commission.
The company issued 5,586,450 shares of its common stock at a purchase price of $1.10 per share to an accredited investor and investment advisory client of Wellington Management Co. LLP.
In addition, the company issued warrants to purchase up to 5,135,018 shares of its common stock at an exercise price of $0.80 per share. The three-year warrants may be exercised at any time from or after the date of issuance and may be exercised on a cashless basis.
The strike price is a 39.84% discount to the Feb. 6 closing share price.
Based in Charlotte, N.C., root9B focuses on cybersecurity and regulatory risk mitigation.
| Issuer: | root9B Technologies, Inc.
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| Issue: | Common stock, warrants
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| Amount: | $6,145,095
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| Shares: | 5,586,450
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| Price: | $1.10
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| Warrants: | For up to 5,135,018 common shares
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| Warrant expiration: | Three years
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| Warrant strike price: | $0.80
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| Pricing date: | Feb. 9
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| Stock symbol: | OTC: RTNB
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| Stock price: | $1.33 at close Feb. 6
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| Market capitalization: | $44.23 million
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