Document Security Systems, Inc. Announces Exercise of Full Over-Allotment Option
January 28 2021 - 9:33AM
Document Security Systems, Inc. (NYSE American: DSS) (the
“Company”), a multinational company operating businesses focusing
on brand protection technology, blockchain security, direct
marketing, healthcare, real estate, and securitized digital assets,
today announced the underwriter of its previously announced public
offering of 6,666,666 common shares, has exercised its full
over-allotment option to purchase an additional 1,000,000 common
shares of the Company. The price to the public in the offering was
$3.60 per share and the gross proceeds to the Company from the
exercise of the over-allotment option were $3,600,000 before
deducting underwriting discounts and commissions and other
estimated offering expenses.
The total gross proceeds, including the full exercise of the
over-allotment option, will be approximately $27.6 million from the
public offering.
Aegis Capital Corp. acted as sole bookrunner for the
offering.
A registration statement relating to the shares
of common stock being sold in this offering was declared effective
by the Securities and Exchange Commission (the "SEC") on January
19, 2021. The offering was made only by means of a prospectus.
Copies of the final prospectus may be obtained on the SEC's
website, www.sec.gov, or by contacting Aegis Capital Corp.,
Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New
York, NY 10019, by email at syndicate@aegiscap.com, or by telephone
at (212) 813-1010.
This press release shall not constitute an offer
to sell, or a solicitation of an offer to buy these securities, 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.
About Document Security Systems, Inc.
DSS is a multinational company operating
businesses focused on brand protection technology, blockchain
security, direct marketing, healthcare, real estate, and
securitized digital assets. Its business model is based on a
distribution sharing system in which shareholders will receive
shares in its subsidiaries as DSS strategically spins them out into
IPOs. Its historic business revolves around counterfeit deterrent
and authentication technologies, smart packaging, and consumer
product engagement. DSS is led by its Chairman and largest
shareholder, Mr. Fai Chan, a highly successful global business
veteran of more than 40 years specializing in corporate
transformation while managing risk. He has successfully
restructured more than 35 corporations with a combined value of $25
billion.
Investor Contact:
Dave Gentry, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking
statements that are made pursuant to the safe harbor provisions
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements include, but are not
limited to, statements related to the Company's intended use of
proceeds and other statements that are not historical facts.
Forward-looking statements are based on management’s current
expectations and are subject to risks and uncertainties that may
cause actual results or events to differ materially from those
projected. These risks and uncertainties, many of which are beyond
our control, include: risks relating to our growth strategy; our
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; risks relating to the
results of development activities; our ability to attract,
integrate and retain key personnel; our need for substantial
additional funds; patent and intellectual property matters;
competition; as well as other risks described in the section
entitled “Risk Factors” in the prospectus and in our other filings
with the SEC, including, without limitation, our reports on Forms
8-K and 10-Q, all of which can be obtained on the SEC website at
www.sec.gov. Readers are cautioned not to place undue reliance on
the forward-looking statements, which speak only as of the date on
which they are made and reflect management’s current estimates,
projections, expectations and beliefs. We expressly disclaim any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions or circumstances on which any such statement is based,
except as required by law.
DSS (AMEX:DSS)
Historical Stock Chart
From Jul 2024 to Aug 2024
DSS (AMEX:DSS)
Historical Stock Chart
From Aug 2023 to Aug 2024