By Sheri Kasprzak
Atlanta, Oct. 26 - eMagin Corp. said Tuesday it received $10.8 million through the sale of common stock and warrants.
Investors will buy 10,259,524 shares at $1.05 per share and series F common stock purchase warrants to buy 5,129,762 shares of common stock at $1.21 per share.
The warrants are exercisable from April 25, 2005 through April 25, 2010.
WR Hambrecht & Co. served as placement agent in the deal, and Larkspur Capital Corp. served as an adviser.
eMagin, based in Hopewell Junction, N.Y., is a virtual imaging technology company. The company plans to use the funds from the financing for general corporate purposes.
| Issuer: | eMagin Corp.
|
| Issue: | Stock and warrants
|
| Amount: | $10.8 million
|
| Shares: | 10,259,524
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| Price: | $1.05
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| Warrants: | Series F common stock purchase warrants for 5,129,762 shares
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| Warrant expiration: | From April 25, 2005 through April 25, 2010
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| Warrant strike price: | $1.21
|
| Placement agent: | WR Hambrecht & Co. (placement agent); Larkspur Capital Corp. (adviser)
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 26
|
| Stock price: | $1.09 at close Oct. 21
|
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