Agents C.K. Cooper, Rodman & Renshaw assist in funding working capital
By Devika Patel
Knoxville, Tenn., Oct. 11 - Authentidate Holding Corp. will conduct a $4.11 million public offering of units, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.
The company will sell 5,875,004 units of one common share and a half-share warrant at $0.70 per unit. The whole warrants are exercisable at $1.00 for four years. The strike price is a 49.25% premium to the Oct. 7 closing share price of $0.67.
C.K. Cooper & Co. and Rodman & Renshaw, LLC are the agents.
Proceeds will be used for working capital and for general corporate purposes.
Based in Berkley Heights, N.J., Authentidate is a provider of secure workflow management software and web-based services.
| Issuer: | Authentidate Holding Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $4,112,503
|
| Units: | 5,875,004
|
| Price: | $0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $1.00
|
| Agents: | C.K. Cooper & Co. and Rodman & Renshaw, LLC
|
| Pricing date: | Oct. 11
|
| Stock symbol: | Nasdaq: ADAT
|
| Stock price: | $0.68 at close Oct. 11
|
| Market capitalization: | $31.33 million
|
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