ROCHESTER, N.Y., Dec. 22, 2014 /PRNewswire/ -- Document
Security Systems, Inc. (NYSE MKT: DSS), (DSS), a leader in
anti-counterfeiting and authentication solutions, today
announced that it is proposing to offer shares of its common stock
in an underwritten public offering. DSS expects to grant the
underwriter a 45-day option to purchase up to an additional 15
percent of the shares of common stock offered in the public
offering to cover over-allotments, if any. DSS intends to use the
net proceeds from the offering primarily for working capital and
other general corporate purposes. The final terms of the offering
will depend on market and other conditions at the time of pricing,
and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the
offering.
National Securities Corporation, a wholly owned subsidiary of
National Holdings, Inc. (OTCBB: NHLD), is acting as sole
book-running manager for the offering. Chardan Capital Markets, LLC
is acting as a "qualified independent underwriter" for this
offering.
The securities described above are being offered pursuant to a
shelf registration statement (File No. 333-191704), which was
declared effective by the United States Securities and Exchange
Commission ("SEC") on November 1,
2013. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any of the securities
described herein, nor shall there be any sale of these securities
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. When filed
with the SEC, copies of the prospectus supplement and the
accompanying base prospectus relating to this offering may be
obtained at the SEC's website at http://www.sec.gov, or by request
to National Securities Corporation at the following address:
National Securities Corporation
410 Park Ave, 14th Floor
New York, NY 10022
Attn: Kim Addarich
Telephone: (212)-417-8164
Email: prospectusrequest@nationalsecurities.com
About Document Security Systems
Document Security Systems, Inc.'s (NYSE MKT: DSS) products and
solutions are used by governments, corporations and financial
institutions to defeat fraud and to protect brands and digital
information from the expanding world-wide counterfeiting problem.
DSS technologies help ensure the authenticity of both digital and
physical financial instruments, identification documents, sensitive
publications, brand packaging and websites.
DSS continually invests in research and development to meet the
ever-changing security needs of its clients and offers licensing of
its patented technologies through its subsidiary, DSS Technology
Management, Inc.
For more information on the AuthentiGuard Suite, please visit
www.authentiguard.com. For more information on DSS and its
subsidiaries, please visit www.DSSsecure.com.
For More Information
Investor Relations
Document Security Systems
(585) 325-3610
Email: ir@documentsecurity.com
Forward-Looking Statements
Forward-looking statements that may be contained in this press
release, including, without limitation, statements related to the
Company's plans, strategies, objectives, expectations, potential
value, intentions and adequacy of resources, are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act and contain words such as "believes," "anticipates,"
"expects," "plans," "intends" and similar words and phrases. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from the
results projected in any forward-looking statement. In addition to
the factors specifically noted in the forward-looking statements,
other important factors, risks and uncertainties that could result
in those differences include, but are not limited to, the Company's
ability to complete the offering, as well as the actual size and
terms of the offering and its ability to raise additional capital,
as well as those risks and uncertainties disclosed in the "Risk
Factors" section of the Company's Annual Report on Form 10-K for
the year ended December 31, 2013,
filed with the Securities and Exchange Commission, and as amended
by our subsequent periodic reports. Forward-looking statements that
may be contained in this press release are being made as of the
date of its release, and the Company assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements.
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SOURCE Document Security Systems, Inc.