Document Security Systems Closes $6.43 Million Underwritten Public Offering of Common Stock

 Document Security Systems, Inc. a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, today announced that it has completed an underwritten public offering of 1,028,800 shares of its common stock at a price of $6.25 per share, for gross proceeds to the Company of $6.43 million, before deducting underwriting discounts and other offering expenses. The Company intends to use the proceeds to fund growth of their new business lines, acquisition opportunities, and general corporate and working capital.

In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 154,320 shares of common stock offered in the public offering to cover over-allotments, if any.

Aegis Capital Corp. acted as the sole book-running manager for the offering. 

This offering was made pursuant to an effective shelf registration statement on Form S-3 (No. 333-230740) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on May 8, 2019. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus may be obtained 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 the solicitation of an offer to buy 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

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.

For more information on DSS visit http://www.dsssecure.com.

Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com