Wave Systems Completes $9.9 Million Stock Offering at $1.90 per Share
June 17 2014 - 04:45PM
Marketwired
Wave Systems Completes $9.9 Million Stock Offering at $1.90 per
Share
LEE, MA--(Marketwired - Jun 17, 2014) - Wave Systems Corp.
(NASDAQ: WAVX) today announced the closing of its previously
announced $9.9 million placement of common stock and warrants to a
group of institutional investors. With the placement's completion,
Wave's At-The-Market (ATM) share issuance program has effectively
ended.
Wave's equity placement consisted of 5,225,560 shares of common
stock priced $1.90 per share. Investors in the placement also
received warrants to purchase up to 2,090,224 shares of Wave common
stock for $1.90 per share. Gross offering proceeds were
$9,928,564.
"One of my primary goals as CEO has been to put in place
sufficient funding to execute our plans for Wave," said Wave CEO
Bill Solms. "This placement puts Wave in a stronger position to
advance our objectives and support efforts to expand our enterprise
business."
Craig-Hallum Capital Group LLC acted as the exclusive placement
agent for the offering.
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. 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