By Sheri Kasprzak
Atlanta, Dec. 20 - Diversinet Corp. said Monday it has closed an oversubscribed private placement for $2.65 million.
The company sold 6,625,000 shares at $0.40 each.
Diversinet had originally planned to raise between $1.75 million and $2.5 million in the private placement offering.
Toronto-based Diversinet is a mobile device security provider. The company intends to use the proceeds from the offering for working capital and general operations, including commercialization activities and product development enhancement.
| Issuer: | Diversinet Corp.
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| Issue: | Stock
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| Amount: | $2.65 million
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| Shares: | 6,625,000
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| Price: | $0.40
|
| Warrants: | No
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| Settlement date: | Dec.20
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| Stock price: | $0.52 at close Dec. 17
|
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