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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 the underwriter of its previously announced public offering of 769,230 shares of the Company’s common stock, has fully exercised its over-allotment option to purchase an additional 115,384 shares of common stock. The price to the public in the offering was $7.80 per share and the gross proceeds to the Company from the exercise of the over-allotment option were approximately $900,000 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 and growth of new business lines and acquisition opportunities, general corporate and working capital needs, and costs related to the closing of unprofitable business lines and facilities.<\/p>\n
The total gross proceeds from the public offering, including the full exercise of the over-allotment option, will be approximately $6.9 million.<\/p>\n
Aegis Capital Corp. acted as sole bookrunner for the offering.<\/strong><\/p>\n The offering was made pursuant to an effective registration statement on Form S-1 (File No. 333-238587) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on June 16, 2020. A final prospectus describing the terms of the proposed offering has been filed with the SEC and is available on the SEC’s website located at http:\/\/www.sec.gov.<\/p>\n 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.<\/p>\n 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.<\/p>\n About Document Security Systems, Inc.<\/strong><\/p>\n 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.<\/p>\n For more information on DSS visit http:\/\/www.dsssecure.com.<\/p>\n Investor Contact:<\/strong><\/p>\n Dave Gentry, CEO Tags:<\/b> Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com<\/p>\nSee Campaign: <\/strong>http:\/\/http:\/\/www.dsssecure.com.<\/a>
Contact Information:<\/b>
Dave Gentry, CEO
\nRedChip Companies Inc.
\n407-491-4498
\nDave@redchip.com<\/p>\n
<\/a>, Wire<\/a>, Disclosure Newswire<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
\nContact Information:<\/h3>\n
\nRedChip Companies Inc.
\n407-491-4498
\nDave@redchip.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"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 the underwriter of its previously announced public offering of 769,230 shares of the Company’s common stock, has fully exercised its over-allotment option to purchase an additional 115,384 … Continue reading Document Security Systems, Inc. Announces Full Exercise of Over-Allotment Option by Underwriter in Public Offering<\/span><\/a> Continue Reading