Company sells about 31,589,000 shares at $0.08074 apiece via offering
By Devika Patel
Knoxville, Tenn., July 29 – hopTo Inc. said it raised about $2.5 million in a private placement of shares.
The company sold about 31,589,000 common shares at $0.08074 per share, a 0.93% premium to the July 28 closing share price of $0.08.
Proceeds will support hopTo's continued operations and go-to-market strategy for hopTo Work.
The Campbell, Calif., company develops software products for mobile devices.
| Issuer: | hopTo Inc.
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| Issue: | Common shares
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| Amount: | $2.5 million (approximate)
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| Shares: | 31,589,000 (approximate)
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| Price: | $0.08074
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| Warrants: | No
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| Settlement date: | July 29
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| Stock symbol: | OTCBB: HPTO
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| Stock price: | $0.08 at close July 28
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| Market capitalization: | $11.27 million
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