By Devika Patel
Knoxville, Tenn., June 30 - Voxware, Inc. said it plans to raise $2.5 million in a private placement of stock.
The company will sell 1,428,571 common shares at $1.75 each.
The investors also will receive warrants for 142,857 shares, each exercisable at $2.50 for three years.
Settlement is expected on June 30.
Based in Lawrenceville, N.J., Voxware develops language interface technologies for industrial uses.
Issuer: | Voxware, Inc.
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Issue: | Common stock
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Amount: | $2.5 million
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Shares: | 1,428,571
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Price: | $1.75
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Warrants: | For 142,857 shares
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Warrant expiration: | Three years
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Warrant strike price: | $2.50
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Pricing date: | June 30
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Settlement date: | June 30
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Stock symbol: | Nasdaq: VOXW
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Stock price: | $2.00 at close June 29
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Market capitalization: | $11.6 million
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