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Identive Group Inc Secures $2 Million Investment And Additional $18 Million Funding Commitment From Lincoln Park Capital


Tuesday, 16 Apr 2013 04:05pm EDT 

Identive Group Inc announced that it has entered into a $20 million common stock purchase agreement with Lincoln Park Capital Fund, LLC (LPC) a Chicago-based institutional investor. Following its execution of the agreement, LPC will purchase $2 million in common stock from Identive at a purchase price of $1.14 per share, the closing price on April 15, 2013. Over the next three years, Identive has the right to sell up to an additional $18 million of its common stock to LPC under terms set forth in the agreement. Proceeds from LPC's funding will be used to support working capital requirements and for general corporate purposes, including ongoing investment in products and technologies to support the Company's growth strategy. 

Company Quote

9.38
-0.03 -0.32%
1:50pm EDT