ROCHESTER, N.Y., Dec. 23, 2014 /PRNewswire/ -- Document
Security Systems, Inc. (NYSE MKT: DSS), (DSS), a leader in
anti-counterfeiting and authentication solutions, today announced
the pricing of its previously announced underwritten public
offering. DSS is offering 3,300,000 registered shares of its
common stock at a price to the public of $0.45 per share, resulting in $1,485,000 in gross proceeds to DSS. In
connection with the offering, the Company has also granted the
underwriter a 45-day option to purchase up to an
additional 495,000 shares of common stock offered in the
public offering to cover over-allotments, if any.
DSS intends to use the net proceeds from this offering for
working capital and other general corporate purposes.
The offering is expected to settle and close on December 29, 2014, subject to the satisfaction or
waiver of customary closing conditions.
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. A final prospectus supplement describing the terms of
the offering will be filed with the SEC. Any offer will be made
only by means of a prospectus supplement and accompanying base
prospectus forming a part of the effective registration statement.
Before investing, you should read the prospectus supplement and the
accompanying base prospectus, and other documents that the Company
has filed or will file with the SEC, for information about the
Company and this offering.
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 comply
with the closing conditions or other conditions that might prevent
the closing of the offering, and the Company's use of net proceeds
from 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.