By Sheri Kasprzak
New York, May 24 - Wave Systems Corp. concluded a $15 million private placement of class A common shares.
The company issued 7,317,073 shares at $2.05 each.
Security Research Associates was the placement agent.
Proceeds will be used for ongoing operations.
Based in Lee, Mass., Wave develops data protection, advanced password management and authentication software.
| Issuer: | Wave Systems Corp.
|
| Issue: | Class A common stock
|
| Amount: | $15 million
|
| Shares: | 7,317,073
|
| Price: | $2.05
|
| Warrants: | No
|
| Placement agent: | Security Research Associates
|
| Settlement date: | May 24
|
| Stock symbol: | Nasdaq: WAVX
|
| Stock price: | $2.50 at close May 24
|
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