By Sheri Kasprzak
Atlanta, June 30 - GigaBeam Corp. said it has raised another $1,248,800 from its private placement of series A redeemable preferred stock.
In the most recent closing, GigaBeam sold 1,784 preferreds at $700 each from June 24 through June 30.
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 178,400 shares, exercisable at $7 each through Jan. 28, 2011.
On June 16, the company sold 1,288 preferreds, on June 7, it sold 860 preferreds, on May 12, the company sold 710 preferreds and on May 20, the company sold 860 preferreds under the same terms. So far, the company has raised a total of $4,057,520 in the offering.
Based in Herndon, Va., GigaBeam is a wireless communications company.
| Issuer: | GigaBeam Corp.
|
| Issue: | Series A redeemable preferred stock
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| Amount: | $1,248,800
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| Shares: | 1,784
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| Price: | $700
|
| Dividends: | 10%
|
| Call: | Redeemable at any time at the then-applicable redemption price
|
| Warrants: | For 178,400 shares
|
| Warrant expiration: | Jan. 28, 2011
|
| Warrant strike price: | $7
|
| Settlement date: | June 30
|
| Stock price: | $6.50 at close June 30
|
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