By Sheri Kasprzak
Atlanta, Dec. 15 - Mace Security International Inc. said Wednesday it has closed a private placement for $4,410,000.
The company issued 1 million shares at $4.41 each to two private institutions.
Each of the investors in the deal will receive warrants to buy a total of 200,000 shares at $5.88 each.
Mount Laurel, N.J.-based Mace manufactures electronic surveillance and personal defense products and also operates car wash facilities. The company plans to use the proceeds from the deal to develop its electronic surveillance products and personal defense divisions, for future growth strategies, and for general working capital.
| Issuer: | Mace Security International Inc.
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| Issue: | Stock
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| Amount: | $4,410,000
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| Shares: | 1 million
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| Price: | $4.41
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| Warrants: | For 200,000 shares
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| Warrant strike price: | $5.88
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| Settlement date: | Dec. 15
|
| Stock price: | $4.96 at close Dec. 14
|
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