ZEPHYR COVE, Nev., July 30, 2018 /PRNewswire/ -- VirnetX
Holding Corporation (NYSE AMERICAN: VHC), a leader in Internet
communication security software and technology, announced today
that it has filed a universal shelf registration statement on Form
S-3 with the Securities and Exchange Commission (SEC), which is
intended to replace its current Form S-3 registration statement
expiring on September 2, 2018.
VirnetX's current Form S-3 registration statement was declared
effective on September 2, 2015.
As of July 17, 2018, the company has
used approximately 40% of the total $100
million value of securities subject to the current Form S-3
registration statement. The remaining amount subject to the current
registration statement may not be used after September 2, 2018. The new registration
statement, when declared effective by the SEC, will allow the
company to offer up to $100 million
of securities.
"The new registration statement will allow us to continue to
access the capital markets in order to fund the company to achieve
our strategic objectives," said Kendall
Larsen, VirnetX CEO and President. "It is both prudent
and fiscally responsible to have financing options open to the
company and we expect that refreshing this universal registration
statement will allow us to raise funds if necessary."
VirnetX has filed a registration statement (including a
prospectus) with the SEC which has not yet been declared
effective. The securities subject to the registration
statement may not be sold nor may offers to buy be accepted
prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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. Any offer of these securities will be made solely by
means of the prospectus included in the registration statement and
any applicable prospectus supplement that may be issued with
respect to such offering. Before you invest, you should read
the prospectus (including any prospectus supplement thereto) in the
registration statement and other documents the VirnetX has filed
with the SEC for more complete information about VirnetX and the
offering. You may get these documents for free by visiting EDGAR on
the SEC Web site at www.sec.gov. Alternatively, VirnetX will
arrange to send you the prospectus if you request it by calling
(775) 548-1785.
About VirnetX
VirnetX Holding Corporation is an Internet security software and
technology company with patented technology for secure
communications including 4G LTE security. The Company's software
and technology solutions, including its secure domain name registry
and Gabriel Connection Technology™, are designed to facilitate
secure communications and to create a secure environment for
real-time communication applications such as instant messaging,
VoIP, smart phones, eReaders and video conferencing. The Company's
patent portfolio includes over 115 U.S. and international patents
and over 50 pending applications. For more information, please
visit www.virnetx.com
Forward Looking Statements
Statements in this press release that are not statements of
historical or current fact, including statements regarding the
effectiveness of the Form S-3 and VirnetX's ability to raise
capital, constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on expectations, estimates and
projections about the markets in which the Company operates,
management's beliefs, and certain assumptions made by management
and involve known and unknown risks, uncertainties and other
unknown factors that could cause the actual results of the Company
to be materially different from the historical results or from any
future results expressed or implied by such forward-looking
statements, including but not limited to (1) the outcome of any
legal proceedings that have been or may be initiated by the Company
or that may be initiated against the Company, including pending and
future inter partes review proceedings in the Patent and Trademark
Office and appeals therefrom; (2) the ability to capitalize on the
Company's patent portfolio and generate licensing fees and
revenues; (3) the ability of the Company to be successful in
entering into licensing relationships with its targeted customers
on commercially acceptable terms; (4) potential challenges to the
validity of the Company's patents underlying its licensing
opportunities; (5) the ability of the Company to achieve widespread
customer adoption of the Company's Gabriel Communication
Technology™ and its secure domain name registry; (6) the level of
adoption of the 3GPP Series 33 security specifications; (7) whether
or not the Company's patents or patent applications may be
determined to be or become essential to any standards or
specifications in the 3GPP LTE, SAE project or otherwise; (8) the
extent to which specifications relating to any of the Company's
patents or patent applications may be adopted as a final
standard, if at all; (9) VirnetX's ability to have the Form S-3
declared effective by the SEC and the timing thereof; (10) the
status of the capital markets and investor demand; and (11) the
possibility that Company may be adversely affected by other
economic, business, and/or competitive factors. In addition
to statements which explicitly describe such risks and
uncertainties, readers are urged to consider statements labeled
with the terms "believes," "belief," "expects," "intends,"
"anticipates," or "plans" to be uncertain and forward-looking.
The forward-looking statements contained herein are also
subject generally to other risks and uncertainties that are
described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including those under the heading "Risk Factors" in
Company's Quarterly Report on Form 10-K filed with the SEC on
May 10, 2018. Many of the
factors that will determine the outcome of the subject matter of
this press release are beyond the Company's ability to control or
predict. Except as required by law, the Company is under no
duty to update any of the forward-looking statements after the date
of this press release to conform to actual results.
Contact:
VirnetX Holding Corporation
Investor Relations
775.548.1785
ir@virnetx.com
VirnetX, Gabriel Collaboration Suite, Gabriel Secure
Communications Platform and GABRIEL Connection Technology are
trademarks of VirnetX Holding Corporation.
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SOURCE VirnetX Holding Corporation