VHC VirnetX Filing Agreements for Private Placement
VHC VirnetX
VirnetX Holding Corporation makes an announcement that it has entered into definitive agreements for a private placement of its common stock and warrants to purchase common stock.
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ABOUT VirnetX
VirnetX Holding Corporation, an innovative secure real-time communications and collaboration technology company, today announced that it has entered into definitive agreements for a private placement of its common stock and warrants to purchase common stock. At the closing, the company will receive gross proceeds of $6.0 million and the investors will receive a short-term warrant (the Series III Warrant) giving the investors the right, during the 60-day period following effectiveness of the resale registration statement to be filed in connection with the financing, to purchase another $6.0 million of the company's common stock at the same price paid at the closing. In addition, the investors will receive a 5-year warrant (the Series I Warrant) covering 100% of the shares purchased at the closing and a warrant (the Series II Warrant) that affects the pricing of the shares purchased at the closing. Dawson James Securities, Inc.
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