Deal’s proceeds to be used for marketing and product launch activities
By Devika Patel
Knoxville, Tenn., Aug. 14 – Interphase Corp. said it arranged a $3.35 million non-brokered private placement of stock with Hodges Small Cap Fund on Wednesday.
The company will sell 1,367,000 common shares at $2.45 per share. The price per share reflects a 7.55% discount to the Aug. 12 closing share price of $2.65.
Proceeds will be used to expedite and expand marketing and product launch activities associated with the introduction of penveu, to support growth in the company’s services business, for working capital needs and general corporate purposes.
The information and communications technology company is based in Carrollton, Texas.
| Issuer: | Interphase Corp.
|
| Issue: | Common shares
|
| Amount: | $3,349,150
|
| Shares: | 1,367,000
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| Price: | $2.45
|
| Warrants: | No
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| Agent: | Non-brokered
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| Investor: | Hodges Small Cap Fund
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| Pricing date: | Aug. 13
|
| Stock symbol: | Nasdaq: INPH
|
| Stock price: | $2.65 at close Aug. 12
|
| Market capitalization: | $20.86 million
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