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Article: Datametrics Announces Private Placement of Common Stock, Settlement of Real Estate Litigation Matter and AMEX Listing Eligibility.
- Article from:
- Business Wire
- Article date:
- May 13, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FLORHAM PARK, N.J.--(BUSINESS WIRE)--May 13, 1999--
Datametrics Corp. (AMEX:DC) today announced the private placement of restricted shares of the company's Common Stock for $1.5 million at $1.00 per share and five-year warrants for the purchase of 1.5 million shares of the company's Common Stock at an exercise price of $1.35 per share.
The company has applied $850 thousand of the proceeds from the private placement and has issued 150,000 shares of the company's Common Stock to complete the previously announced agreement with the company's former California landlord. The balance of the proceeds from the private placement will be used for working capital ...