Mace Security International, Inc. Completes Offering
Mace Security International, Inc. ("Mace” or the “Company”) (OTCQB: MACE) announced the completion of an offering of unsubscribed shares of common stock (the “Available Shares”) from the Company’s recently completed rights offering at a price of $0.20 per share. The Available Shares were registered under a Registration Statement filed with the Securities and Exchange Commission, which was declared effective on June 29, 2011. The offering of the Available Shares commenced on August 2, 2011 and ended on August 15, 2011. The offering was made pursuant to a Prospectus dated June 30, 2011 and a Prospectus Supplement dated August 2, 2011. The Company sold 838,100 shares of the offered common stock. The shares sold were in addition to the 22,372,616 shares sold in the Company's previously announced Rights Offering and the 20,000,000 shares sold to Merlin Partners, LP, and its two assignees. With the completion of the sale of the recently offered shares, Mace has 58,946,441 shares of common stock outstanding.
Dennis Raefield, Mace’s CEO and President, stated, “We are happy to have completed the offering. The offering raised $167,620 of additional net proceeds. The net proceeds from the Rights Offering, the sale of common stock to Merlin Partners, LP and its two assignees and the completed offering total approximately $8.2 million. The net proceeds will be used to pay debt, fund operations and marketing efforts and expand the Company's business, as more fully described in the Prospectus and the Prospectus Supplement.”
Mace Security International, Inc. is a manufacturer of personal defense and electronic surveillance products marketed under the famous brand name Mace®, and the owner and operator of a wholesale central monitoring station. Mace’s web site is www.mace.com.Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “projected,” “intend to” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, our ability to compete with competitors, dilution to shareholders, and limited capital resources. A discussion of factors that could materially adversely affect the Company’s financial performance and cause actual results for future periods to differ materially from the statements expressed within this press release, and management's opinions, projections, forecasts, estimates and expectations are contained under the heading “Risk Factors” in Mace’s SEC filings, including its registration statements, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which reports should be read in conjunction with this press release.
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