ROCHESTER, N.Y., Dec. 29, 2014 /PRNewswire/ -- Document
Security Systems, Inc. (NYSE MKT: DSS), (DSS), a leader
in anti-counterfeiting and authentication solutions, today
announced the closing of its previously announced underwritten
public offering. A total of 3,715,000 shares of DSS's common stock
were sold in the offering at a price to the public of $0.45 per share, resulting in $1.672 million in gross proceeds to DSS. The
shares include 415,000 shares of common stock sold pursuant to the
underwriters' over-allotment option, which was partially exercised.
DSS intends to use the net proceeds from this offering for working
capital and other general corporate purposes.
National Securities Corporation, a wholly owned subsidiary of
National Holdings, Inc. (OTCBB: NHLD), acted as sole book-running
manager for the offering. Chardan Capital Markets, LLC acted as a
"qualified independent underwriter" for this offering.
The securities described above were offered pursuant to a shelf
registration statement (File No. 333-191704), which was declared
effective by the United States Securities and Exchange Commission
("SEC") on November 1, 2013. A final
prospectus supplement describing the terms of the offering was
filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Copies of the
prospectus supplement and the accompanying base prospectus relating
to this offering may be obtained at the SEC's website at
http://www.sec.gov, or by request to National Securities
Corporation at the following address:
National Securities Corporation
410 Park Ave, 14th Floor
New York, NY 10022
Attn: Kim Addarich
Telephone: (212)-417-8164
Email: prospectusrequest@nationalsecurities.com
About Document Security Systems
Document Security Systems, Inc.'s (NYSE MKT: DSS) products and
solutions are used by governments, corporations and financial
institutions to defeat fraud and to protect brands and digital
information from the expanding world-wide counterfeiting problem.
DSS technologies help ensure the authenticity of both digital and
physical financial instruments, identification documents, sensitive
publications, brand packaging and websites. DSS continually invests
in research and development to meet the ever-changing security
needs of its clients and offers licensing of its patented
technologies through its subsidiary, DSS Technology Management,
Inc. For more information on the AuthentiGuard Suite, please visit
www.authentiguard.com. For more information on DSS and its
subsidiaries, please visit www.DSSsecure.com. To follow DSS on
Facebook, click here.
For More Information
Investor Relations
Document Security Systems
(585) 325-3610
Email: ir@documentsecurity.com
Forward-Looking Statements
Forward-looking statements that may be contained in this press
release, including, without limitation, statements related to the
Company's plans, strategies, objectives, expectations, potential
value, intentions and adequacy of resources, are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act and contain words such as "believes," "anticipates,"
"expects," "plans," "intends" and similar words and phrases. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from the
results projected in any forward-looking statement. In addition to
the factors specifically noted in the forward-looking statements,
other important factors, risks and uncertainties that could result
in those differences include, but are not limited to, the Company's
use of the net proceeds from the offering, and its ability to raise
additional capital, as well as those risks and uncertainties
disclosed in the "Risk Factors" section of the Company's Annual
Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and
Exchange Commission, and as amended by our subsequent periodic
reports. Forward-looking statements that may be contained in this
press release are being made as of the date of its release, and the
Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
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SOURCE Document Security Systems, Inc.