By Sheri Kasprzak
New York, May 2 - ANTs Software Inc. said it has concluded a $9,042,502 private placement.
The company sold 6,028,335 shares at $1.50 each to a group of accredited investors. The price per share represents at 46.8% discount to the company's $2.82 closing stock price on May 1.
The company plans to use the proceeds for marketing, sales and product development programs related to ANTs' data service. The rest will be used for working capital.
Based in Burlingame, Calif., Ants develops relational database management software.
| Issuer: | ANTs Software Inc.
|
| Issue: | Stock
|
| Amount: | $9,042,502
|
| Shares: | 6,028,335
|
| Price: | $1.50
|
| Warrants: | No
|
| Settlement date: | May 1
|
| Stock symbol: | OTCBB: ANTS
|
| Stock price: | $2.82 at close May 1
|
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