Rainmaker Systems Receives $3.9 Million In Direct Common Stock Offering
Rainmaker Systems, a provider of BtoB e-Commerce sales solutions, today announced the completion of its registered direct offering of units consisting of one share of common stock and a warrant to purchase 0.40 shares of common stock. The shares of common stock and warrants were offered and sold after an effective registration statement previously announced with the Securities and Exchange Commission.
Nearly 3.5 million shares of Rainmaker’s common stock were sold at $1.05 per share and the warrants to purchase approximately 1.4 million additional shares at $1.40 per share to purchasers comprised of new investors and existing stockholders. Approximately 136,000 shares of common stock were sold at a price of $1.29 per share, with warrants to purchase close to 54,000 additional shares at $1.40 per share, to members of the company’s Board of Directors.
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