Document Security Systems Inc., a company engaged in security and protection services that help prevent counterfeiting and brand fraud, today announced that on December 30, 2010, Fletcher Asset Management and its affiliates acquired $4.0 million of DMC’s common stock at $5.29 per share as part of an equity purchase agreement between the two firms.
Per the agreement, Fletcher has the right to make an additional equity investment of up to $4 million during the early part of 2011; certain warrants may be exercised for a certain number of years.
If exercised, the full potential share purchase, including warrants, if exercised in their entirety for cash, could total $16.0 million at prices ranging between approximately $4.76 and $7.62 per share.
Patrick White, CEO of DMC, said the capital will allow the company to pursue business partnerships and perform with overall growth.
“This funding provides us with the additional resources necessary to leverage our new strategic relationships, improve our working capital position, expand our sales and marketing presence, accelerate our digital product development, and continue pursuing the tremendous market opportunities that we have identified as part of our growing business model,” White stated in the press release.
For more information visit www.fletcher.com or www.documentsecurity.com
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment