Key Developments: Wave Systems Corp (WAVX.PH)
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7 May 2013
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Latest Key Developments (Source: Significant Developments)
Florida Peninsula Insurance Chooses Wave Systems Corp's eSignSystems to Automate Insurance Processes for Independent Agents and Consumers
eSignSystems, a division of Wave Systems Corp announced that Florida Peninsula Insurance (FPI) has chosen to integrate electronic signing and management technology from eSignSystems. This will directly benefit Florida Peninsula's independent agents and consumer policy holders alike, offering the ability to review, sign and administrate policies remotely -- wherever and whenever it's convenient for them. FPI also benefits from full electronic capture and access to documents, streamlining compliance with evolving insurance regulations and ensuring the response when policy holders need it -- when filing claims. Integrating eSignSystems' SmartSAFE will provide faster, legally binding electronic signatures and secure electronic delivery, reducing costs and processing time for online insurance application submissions, streamlining underwriting and speeding claims processing for consumers. Independent agents can sign and complete insurance policies remotely from the office or a client's home, maximizing usage of tablets and laptops. They gain increased document integrity -- while reducing repetitive re-keying of data and tedious review of unreadable faxes Full Article
Wave Systems Corp To Raise $1 Million
Wave Systems Corp announced that it has entered into agreements with certain institutional investors for a private placement of 1,204,820 shares of its Class A common stock at a price of $.83 per share, yielding gross proceeds of $1,000,000. Additionally, investors in the offering will receive five-year warrants to purchase an aggregate of 602,410 shares of Wave's Class A common stock for $.83 per share. The net proceeds of the financing will be used to fund Wave's ongoing operations. The offering is expected to close on or about March 15, 2013. Dawson James Securities, Inc. acted as exclusive placement agent in connection with the offering. Full Article
Wave Systems Corp Expands Global Distribution Channels Across Asia Pacific
Wave Systems Corp announced an expansion of its distribution channel, highlighted by strategic agreements with Infodat Technologies in India; TechSearch Corp. in Korea; and Bangkok Systems & Software in Thailand. Wave is also expanding existing relationships in Singapore and other Asian-Pacific markets. These new distribution partners are now authorized to offer their customers Wave's solutions for data protection, data loss prevention, authentication, security compliance and malware protection. Full Article
Wave Systems Corp Announces To Raise $3.3 Million In Registered Direct Offering
Wave Systems Corp announced that it has entered into agreements with certain institutional investors for a registered direct placement of approximately 3,324,750 shares of its Class A common stock at a price of $1.0025 per share, yielding gross proceeds of $3,333,062. Additionally, investors in the offering will receive five-year warrants to purchase an aggregate of 1,662,375 shares of Wave's Class A common stock for $0.94 per share. The net proceeds of the financing will be used to fund Wave's ongoing operations. The offering is expected to close on or about October 23, 2012, subject to the satisfaction of customary closing conditions. Full Article
Compliance Systems Corp Partners With Wave Systems Corp's eSignSystems
Compliance Systems Corp (CSi) and eSignSystems, a division of Wave Systems Corp. announced a partnership that will provide CSi's thousands of financial services clients with eSigning, eDelivery and eVaulting capabilities directly from CSi's IntelleDoc solution. CSi 's partners and clients may elect to incorporate the use of SmartSAFE to streamline all financial transactions, in any segment of banking, consumer or mortgage lending with eDelivery, eSignatures and eVaulting. Full Article
Wave Systems Corp To Complete $1.66 Million Stock Offering
Wave Systems Corp announced that it is selling to investors 2,587,824 shares of its Class A common stock at a price of $0.6425 per share, yielding gross proceeds of approximately $1,662,677. Investors in the offering will also receive three-year warrants to purchase an aggregate of 1,293,912 shares of Wave's Class A common stock for $0.58 per share. The net proceeds of the financing will be used to fund Wave's ongoing operations. Security Research Associates acted as placement agent in connection with the offering. The shares and shares underlying the warrants in this offering are being issued under a $30 million shelf registration statement declared effective by the Securities and Exchange Commission on July 22, 2011. A prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. Full Article
Wave Systems Corp Receives Contract From U.S. Army
Wave Systems Corp announced that it has received a contract from the U.S. Army. Under the terms of the contract, Wave will provide labor, equipment and management to implement solutions for the Army's self-encrypting drives (SEDs) in support of Army operations. The Army is exploring the enablement of SEDs with Trusted Platform Modules (TPMs) in its systems in order to mitigate the possibility of data being compromised if hardware were to fall into enemy hands. Wave has been retained to provide expertise in the area of SEDs and TPMs to help yield the maximum security advantage of these technologies while minimizing the disruptive impact to Army's fielding and sustainment. Wave will also provide vital engineering support to Army missions in support of continental U.S. and overseas operations. Full Article
Wave Systems Corp and American Megatrends To Extend UEFI Support In Windows 8 For BIOS Malware Detection
Wave Systems Corp and American Megatrends Inc announced that they are collaborating on the development of Windows 8-compatible solutions to assure that platforms remain free of Advanced Persistent Threats (APTs) sophisticated cyber-attacks that access and steal information from compromised computers. APTs involve malicious code that circumvents common safeguards such as anti-virus software and seek entry before the operating system loads. Full Article
Wave Systems Corp. Signs EMEA Distribution Agreement With Origin Storage To Expand Reseller Channels
Wave Systems Corp. announced that it has signed a distribution agreement for Europe, the Middle East and Africa (EMEA) with storage solutions provider Origin Storage. Origin will focus on the forward-looking channel reseller companies in the region interested in providing data protection to their customers. Origin has joined with Wave to enhance and develop Wave's reseller channel in Europe over the next year. The opportunity for resellers comes at a time when conventional security is under continuing pressure from a growing number of cyber-attacks. Most security solutions on the market rely on proprietary software vulnerable to attack. Wave, by contrast, enables security that's built into the device, not added on, giving enterprises the ability to know their devices, data and applications. Full Article
Wave Systems Corp. Announces Global Distribution Agreement With Ingram Micro
Wave Systems Corp. announced a strategic distribution agreement with Ingram Micro Inc. Under the terms of the agreement, Wave's EMBASSY security software for managing hardware-based data protection and authentication will be available worldwide through Ingram Micro beginning November 1, 2011. Ingram Micro is authorized to distribute Wave's EMBASSY management software, including EMBASSY Remote Administration Server (ERAS), an enterprise-grade console for the centralized management of endpoint security for data protection and authentication. Full Article
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