Agent Craig-Hallum raises proceeds for general corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 14 – Accelerize Inc. priced a $2.15 million public offering of units with a $3.53 million greenshoe, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The offering was announced July 22.
The company will sell 2,145,000 units of one common share and 0.6 of a warrant at $1.00 per unit. Each whole warrant will be exercisable at $1.32 for five years. The strike price is identical to the Aug. 13 closing share price.
Craig-Hallum Capital Group LLC is the agent.
Settlement is expected Aug. 19.
Proceeds will be used for general corporate purposes.
The Newport Beach, Calif., company owns and operates CAKE and getcake.com, a marketing technology that provides a suite of marketing intelligence tools.
| Issuer: | Accelerize Inc.
|
| Issue: | Units of one common share and 0.6 warrants
|
| Amount: | $2,145,000
|
| Greenshoe: | $3,524,995
|
| Units: | 2,145,000
|
| Price: | $1.00
|
| Warrants: | 0.6 of a warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.32
|
| Agent: | Craig-Hallum Capital Group LLC
|
| Announcement date: | July 22
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 19
|
| Stock symbol: | OTCBB: ACLZ
|
| Stock price: | $1.32 at close Aug. 13
|
| Market capitalization: | $51.6 million
|
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