By Sheri Kasprzak
Atlanta, June 8 - Saflink Corp. has secured $14,960,000 in a private placement of stock, the company said.
Saflink sold 8.8 million shares at $1.70 each to institutional investors.
The investors also received warrants for 2.6 million shares, exercisable at $2.50 each for five years.
Rodman & Renshaw, LLC was the placement agent.
Based in Bellevue, Wash., Saflink produces biometric security and smart card technologies. The proceeds will be used for working capital.
| Issuer: | Saflink Corp.
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| Issue: | Stock
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| Amount: | $14,960,000
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| Shares: | 8.8 million
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| Price: | $1.70
|
| Warrants: | For 2.6 million shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $2.50
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Announcement date: | June 8
|
| Stock price: | $2.10 at close June 7
|
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