By Devika Patel
Knoxville, Tenn., March 26 - OCZ Technology Group, Inc. gave further details about a $15.45 million private placement of stock in an 8-K filed Friday with the Securities and Exchange Commission. The deal settled March 23.
The company sold 5,151,662 common shares at $3.00 apiece.
Investors also received warrants for 2,575,831 shares, which are exercisable at $5.25 until March 23, 2015.
Merriman Curhan Ford was the agent.
Proceeds will be used to support the company's growing solid state drive business.
OCZ is a Sunnyvale, Calif.-based producer of computer memory and components.
| Issuer: | OCZ Technology Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $15,454,986
|
| Shares: | 5,151,662
|
| Price: | $3.00
|
| Warrants: | For 2,575,831 shares
|
| Warrant expiration: | March 23, 2015
|
| Warrant strike price: | $5.25
|
| Agent: | Merriman Curhan Ford
|
| Settlement date: | March 23
|
| Stock symbol: | OTCBB: OCZT
|
| Stock price: | $5.25 at close March 23
|
| Market capitalization: | $102 million
|
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