Wave Systems Corp. (NASDAQ: WAVX) today announced the closing of its previously announced underwritten public offering of 7,300,000 units with each unit consisting of one share of Class A common stock and a warrant to purchase 0.5 shares of Class A common stock, at a public offering price of $0.65 per unit. The Company also today announced the underwriter fully exercised its option to purchase an additional 1,095,000 shares of Class A common stock and warrants to purchase up to 547,500 shares of Class A common stock. Net proceeds to the Company from the offering, after deducting underwriting discounts and commissions, are expected to be approximately $5.1 million.
The Company expects to use the net proceeds from the offering for working capital purposes.
Roth Capital Partners acted as the sole manager for the offering.
The offering of the shares was made under the Company’s effective shelf registration statement (File No. 333-200316) filed with the Securities Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and the accompanying prospectus forming part of the effective registration statement, final copies of which may be obtained from the EDGAR Filings website at www.sec.gov or from Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147 or email: email@example.com or by accessing the SEC’s website, www.sec.gov.