Financing sells 3,686,811 common shares along with three-year warrants
By Devika Patel
Knoxville, Tenn., March 16 – root9B Technologies, Inc. settled a $4.06 million private placement of stock on March 12, according to an 8-K filed Monday with the Securities and Exchange Commission. The company raised $1.28 million on similar terms in February.
The company sold 3,686,811 common shares at $1.10 per share. The price per share is a 21.43% discount to the $1.43 closing share price on March 11.
The investors also received warrants for 1,068,390 shares. Each warrant is exercisable at $1.50 for three years. The strike price is a 4.9% premium to the March 11 closing share price.
In the February placement, the warrants had a strike price of $0.80.
The Charlotte, N.C., company offers cybersecurity, regulatory risk mitigation, and energy and controls services.
Issuer: | root9B Technologies Inc.
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Issue: | Common stock
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Amount: | $4,055,492
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Shares: | 3,686,811
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Price: | $1.10
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Warrants: | For 1,843,409 shares
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Warrant expiration: | Three years
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Warrant strike price: | $1.50
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Settlement date: | March 12
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Stock symbol: | OTCBB: RTNB
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Stock price: | $1.43 at close March 11
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Market capitalization: | $47.18 million
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