By Sheri Kasprzak
Atlanta, Dec. 27 - Trestle Holdings said it has wrapped the $2 million first tranche of a $3.5 million private placement.
The company sold 1,142,858 units at $1.75 each. The units include one share and one three-fourths share warrant.
The whole warrants allow for an additional share at $1.75 each.
Trestle, based in Irvine, Calif., develops and sells digital imaging and telemedicine applications to life sciences companies. The proceeds from the private placement will be used for working capital, including the proposed acquisition of Interscope Technologies.
| Issuer: | Trestle Holdings
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| Issue: | Units of one share and one three-fourths share warrant
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| Amount: | $2 million
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| Units: | 1,142,858
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| Price: | $1.75
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| Warrants: | One three-fourths share warrant per unit
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| Warrant strike price: | $1.75
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| Settlement date: | Dec. 27
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| Stock price: | $1.62 at close Dec. 21 (last trade)
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