By Sheri Kasprzak
New York, Aug. 1 - Data Systems & Software Inc. completed the final tranche of its previously announced $3.18 million private placement for $916,065.
The company sold 345,685 shares in the final tranche at $2.65 each.
The investors received warrants for 86,424 shares, exercisable at $2.78 each for five years.
In the first tranche, closed July 14, the company sold 854,317 shares for proceeds of $2,263,940.
In the full offering, the company issued warrants for 300,004 shares.
First Montauk Securities Corp. was the placement agent.
Located in Mahwah, N.J., Data Systems is a software consulting and development company.
| Issuer: | Data Systems & Software Inc.
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| Issue: | Stock
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| Amount: | $3.18 million
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| Shares: | 1,200,002
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| Price: | $2.65
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| Warrants: | For 300,004 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $2.78
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| Placement agent: | First Montauk Securities Corp.
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| Settlement date: | Aug. 1
|
| Stock symbol: | OTCBB: DSSI
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| Stock price: | $2.91 at close Aug. 1
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