Wave to Complete $9.9 Million Stock Offering
June 12 2014 - 08:30AM
Marketwired
Wave to Complete $9.9 Million Stock Offering
LEE, MA--(Marketwired - Jun 12, 2014) - Wave Systems Corp.
(NASDAQ: WAVX) today announced that it is selling to investors
5,225,560 shares of its common stock at a price of $1.90 per share.
Investors in the offering will also receive five-year warrants to
purchase an aggregate of 2,090,224 shares of Wave's Class A common
stock for $1.90 per share. The offering is expected to close on or
about June 17, 2014, subject to the satisfaction of customary
closing conditions.
The total gross proceeds of the offering are $9,928,564. Wave
currently intends to use the net proceeds from this offering for
working capital and general corporate purposes.
Craig-Hallum Capital Group LLC acted as the exclusive placement
agent for the offering.
A shelf registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
September 12, 2013. The securities may be offered only by means of
a prospectus, including a prospectus supplement, forming a part of
the effective registration statement. Copies of the final
prospectus supplement and accompanying base prospectus related to
this offering, when available, may be obtained from the Securities
and Exchange Commission's website at http://www.sec.gov or by
contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street,
Minneapolis, MN 55402, by calling 612-334-6300.
This press release does not constitute an offer to sell or the
solicitation of offers to buy any securities of the company, and
shall not constitute an offer, solicitation or sale of any security
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About Wave Systems Wave Systems Corp. (NASDAQ: WAVX) reduces the
complexity, cost and uncertainty of data protection by starting
inside the device. Unlike other vendors who try to secure
information by adding layers of software for security, Wave
leverages the security capabilities built directly into endpoint
computing platforms themselves. Wave has been a foremost expert on
this growing trend, leading the way with first-to-market solutions
and helping shape standards through its work as a board member for
the Trusted Computing Group.
Safe Harbor for Forward-Looking Statements This press
release may contain forward-looking information within the meaning
of the Private Securities Litigation Reform Act of 1995 and Section
21E of the Securities Exchange Act of 1934, as amended (the
Exchange Act), including all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the company, its directors or its officers with
respect to, among other things: (i) the company's financing plans;
(ii) trends affecting the company's financial condition or results
of operations; (iii) the company's growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words "may," "would," "will," "expect," "estimate," "anticipate,"
"believe," "intend" and similar expressions and variations thereof
are intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors. Wave assumes no duty to and does not undertake to update
forward-looking statements.
All brands are the property of their respective owners.
Company: Walter A. Shephard CFO 413-243-1600 investors@wave.com
Investor Relations: David Collins, Eric Lentini Catalyst Global LLC
212-924-9800 wavx@catalyst-ir.com