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Digital Cinema Destinations Corp Closes Previously Announced $5.7 Million Registered Direct Offering

Thursday, 10 Oct 2013 07:30am EDT 

Digital Cinema Destinations Corp, announced that it has closed its previously announced registered direct offering with certain institutional investors of 1,141,000 shares of its Class A Common Stock. The offering price was $5.00 per share, resulting in gross proceeds of approximately $5.7 million. Barrington Research Associates, Inc. acted as exclusive placement agent for the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, repayment of debt, capital expenditures, the acquisition of additional units of membership interest in the joint venture, Start Media/Digiplex, LLC, the financing of possible acquisitions or business expansions, increasing the working capital and the financing of ongoing operating expenses and overhead. 

Company Quote

-0.1 -1.78%
28 Jul 2014