By LLuvia Mares
New York, Nov. 16 - KANA Software, Inc. announced Friday it entered into a commitment with a group of institutional investors to issue $9.8 million in a direct placement of stock.
The company will sell 4 million shares at $2.45 each. No warrants were issued in the deal.
The offering is expected to close Nov. 21.
Roth Capital Partners, LLC was the placement agent.
Proceeds will be used to repay debt and for general corporate purposes, which may include capital expenditures and working capital.
Menlo Park, Calif.-based Kana provides multi-channel customer service.
Issuer: KANA Software, Inc.
Issue: Stock
Amount: $9.8 million
| Shares: | 4 million
|
| Price: | $2.45
|
| Warrants: | No
|
| Placement agent: | Roth Capital Partners, LLC
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 21
|
| Stock symbol: | OTCBB: KANA
|
| Stock price: | $2.65 at close Nov. 15
|
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