By Sheri Kasprzak
New York, March 21 - Catcher Holdings, Inc. has completed a $6,705,000 private placement, selling units of one share and one half-share warrant.
The company issued 1,341,000 units at $5.00 each.
Each whole warrant from the deal is exercisable at $3.50 for five years.
Emerging Growth Equities, Ltd. was the placement agent.
Proceeds will be used for the development and commercialization of the company's technologies. The remainder will be used for working capital.
Catcher, based in Hamilton, Va., develops portable, wireless handheld communication devices used for military applications.
| Issuer: | Catcher Holdings, Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $6,705,000
|
| Units: | 1,341,000
|
| Price: | $5.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.50
|
| Placement agent: | Emerging Growth Equities, Ltd.
|
| Settlement date: | March 17
|
| Stock symbol: | OTCBB: CTHH
|
| Stock price: | $3.26 at close March 17
|
| Stock price: | $3.70 at close March 21
|
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