Wave to Raise $1 Million
LEE, MA -- (Marketwire) -- 03/13/13 -- Wave Systems Corp. (NASDAQ:
WAVX) today announced that it has entered into agreements with
certain institutional investors for a private placement of 1,204,820
shares of its Class A common stock at a price of $.83 per share,
yielding gross proceeds of $1,000,000. Additionally, investors in the
offering will receive five-year warrants to purchase an aggregate of
602,410 shares of Wave's Class A common stock for $.83 per share. The
net proceeds of the financing will be used to fund Wave's ongoing
The offering is expected to close on or about March 15, 2013, subject
to the satisfaction of customary closing conditions.
Dawson James Securities, Inc. acted as exclusive placement agent in
connection with the offering.
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 in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state. The shares in the offering will
not be or have not been registered under the Securities Act of 1933,
as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) reduces the
complexity, cost and uncertainty of data protection by starting
inside the device.
Safe Harbor for Forward-Looking Statements
This press release may
contain forward-looking information within the meaning of the Private
Securities Litigation Reform Act of 1995 and Section 21E of the
Securities Exchange Act of 1934, as amended (the Exchange Act),
including all statements that are not statements of historical fact
regarding the intent, belief or current expectations of the company,
its directors or its officers with respect to, among other things:
(i) the company's financing plans; (ii) trends affecting the
company's financial condition or results of operations; (iii) the
company's growth strategy and operating strategy; and (iv) the
declaration and payment of dividends. The words "may," "would,"
"will," "expect," "estimate," "anticipate," "believe," "intend" and
similar expressions and
variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements as
a result of various factors. Wave assumes no duty to and does not
undertake to update forward-looking statements.
All brands are the property of their respective owners.
Gerard T. Feeney
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