By Sheri Kasprzak
Atlanta, June 16 - GigaBeam Corp. said it has raised an additional $901,600 in a private placement of its series A redeemable preferred stock.
The company sold 1,288 preferreds at $700 each from June 10 through June 16.
The preferreds pay annual dividends at 10%, are not convertible and are redeemable at any time at the then-applicable redemption price per share.
The investors also received warrants for 128,800 shares, exercisable at $7.00 each through Jan. 28, 2011.
On June 7 the company announced that it had sold 1,126 preferreds, on May 12 that it sold 710 preferreds and on May 20 that is sold 860 preferreds under the same terms. So far, the company has raised a total of $2,808,720 in the offerings.
Based in Herndon, Va., GigaBeam is a wireless communications company.
| Issuer: | GigaBeam Corp.
|
| Issue: | Series A redeemable preferred stock
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| Amount: | $901,600
|
| Shares: | 1,288
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| Price: | $700.00
|
| Dividends: | 10%
|
| Call: | Redeemable at any time at the then-applicable redemption price
|
| Warrants: | For 128,800 shares
|
| Warrant expiration: | Jan. 28, 2011
|
| Warrant strike price: | $7.00
|
| Settlement date: | June 16
|
| Stock price: | $6.50 at close June 16
|
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