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DecisionPoint Systems Inc Announces Private Placement of $1,756,400 of Common Stock and Warrants

Friday, 16 Aug 2013 09:00am EDT 

DecisionPoint Systems Inc announced that it has entered into definitive subscription agreements with accredited investors for the sale of $1,756,400 in gross proceeds (including $200,000 from management and existing shareholders of the company) for 2,927,333 shares of common stock and 1,463,667 warrants. An initial closing for $1,556,400 was held on August 15, 2013. The remaining $200,000 is expected to close on or about August 19, 2013. Each warrant is exercisable at $1.00 per share. The Company received net proceeds of approximately $1.3 million from the initial closing, after deducting the placement agent's fees and other offering expenses. Newport Coast Securities, Inc. served as the exclusive placement agent. 

Company Quote

0.029 +7.23%
21 Jul 2014