Simultaneously with the execution of the Merger Agreement, on October 1, 2012, DSS entered into subscription agreements with certain accredited investors, pursuant to which DSS agreed to issue and sell to such investors in a private placement an aggregate of 833,651 shares of its common stock, at a purchase price of $3.30 per share, for an aggregate purchase price of $2,751,048. The Private Placement was completed on October 1, 2012. Lexington Technology Group participated in the private placement and purchased an aggregate of 218,675 shares of DSS common stock, at a purchase price of $3.30 per share, for an aggregate purchase price of $721,628.
Dawson James Securities, Inc. acted as the sole placement agent in connection with the Private Placement. Palladium Capital Advisors, LLC advised DSS on the merger and the private placement.
The shares of DSS common stock being sold in the Private Placement have not been registered under the Securities Act or any state securities laws and, until so registered, may not be offered or sold in the United States or any state absent registration or an applicable exemption from registration requirements.Completion of the merger, which is expected to occur in the first quarter of 2013, will be subject to approval by the stockholders of DSS and Lexington Technology Group and customary closing conditions. Document Security Systems and Lexington Technology Group, Inc. will host a conference call on Thursday, October 4 at 4:00 PM to discuss the merger.
- Time: 4:00 p.m. Eastern Time
- Date: Thursday, October 4th, 2012
- Investor Dial In (Toll Free): 877-407-9205
- Investor Dial In (International): 201-689-8054
- Live Webcast URL: : http://www.investorcalendar.com/IC/CEPage.asp?ID=169854
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