Secondary Stock OfferingsBy The Online Investor Staff, updated Thu., Feb. 27, 3:23 PM
|This Slide: #4 of 25|
Slide #4. Document Security Systems, Inc. — Secondary Offering
Document Security Systems, Inc. (AMEX:DSS)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Document Security Systems, Inc. (NYSE American: DSS), a leader in anti-counterfeit, authentication and diversion protection technologies, today announced the pricing of an underwritten public offering of 22,222,223 shares of the Company's common stock at a price of $0.18 per share, with gross proceeds to the Company expected to be approximately $4 million before deducting underwriting discounts and commissions and other estimated offering expenses. The Company intends to use the net proceeds from this offering to fund development of new business lines, to upgrade machinery and facilities, to service remaining commitments under the IP monetization business and for strategic growth initiatives, including possible acquisitions or investments in complementary businesses, products, services, technologies or assets, as well as for working capital and general corporate purposes. Heng Fai Ambrose Chan, the Chairman of the Company's Board of Directors, purchased $2 million of shares in the offering. The Company has also granted the underwriters a 45-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering to cover over-allotments, if any, at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about February 25, 2020, subject to customary closing conditions.
Document Security Systems is a developer and marketer of secure technologies. Co. focuses on fraud and counterfeit protection for various forms of printed documents and digital information. Co.'s segments include: DSS Packaging and Printing Group, which produces custom paperboard packaging; DSS Plastics Group, which manufactures laminated and surface printed cards; DSS Digital Group, which researches, develops, markets and sells Co.'s digital products; DSS International, which assists the DSS Digital Group in the development and marketing of Co.'s digital authentication products; and DSS Technology Management, which acquires or develops patented technology or intellectual property assets.
Open the DSS Page at The Online Investor »
Strong Buy (4.00 out of 4)
(ranked higher than approx. 94% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite