Deal sells shares with warrants to finance general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 19 - Dataram Corp. arranged an $807,141 registered direct offering of stock on Sept. 18, according to an 8-K filed Thursday with the Securities and Exchange Commission. Tripoint Global Equities, LLC is the agent.
The company will sell 350,931 common shares at $2.30 per share, which is an 18.73% discount to the Sept. 17 closing share price of $2.83. Investors will also receive five-year warrants for 350,931 shares.
The warrants are each exercisable at $3.50, a 23.68% premium to the Sept. 17 closing share price.
Settlement is expected Sept. 23.
Proceeds will be used to meet working capital needs and for general corporate purposes.
Dataram is a West Windsor, N.J., developer, manufacturer and marketer of large capacity memory products primarily used in high-performance network servers and workstations.
| Issuer: | Dataram Corp.
|
| Issue: | Common stock
|
| Amount: | $807,141
|
| Shares: | 350,931
|
| Price: | $2.30
|
| Warrants: | For 350,931 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.50
|
| Agent: | Tripoint Global Equities, LLC
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 23
|
| Stock symbol: | Nasdaq: DRAM
|
| Stock price: | $2.83 at close Sept. 17
|
| Market capitalization: | $5.26 million
|
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