This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Identive Group Announces New Funding From Private Placement

SANTA ANA, Calif. and ISMANING, Germany, Aug. 14, 2013 (GLOBE NEWSWIRE) -- Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV), a provider of solutions and services for the identification, security and RFID industries,has entered into subscription agreements for the private placement of up to 8,348,471 shares of its common stock and 8,348,471 warrants to purchase shares of its common stock to accredited and other qualified investors in the United States and internationally. The anticipated gross proceeds will be approximately $7.1 million before offering expenses and transaction costs of approximately 10%, with investors paying $0.85 for one share and one warrant. The warrants have a strike price of $1.00 and are exercisable for a period of four years, beginning six months after closing. While the investors have the option to withdraw their investment if the gross proceeds at closing do not reach $8 million, to date investors representing over 94% of the amount subscribed have agreed to waive the option. The proceeds will be used for working capital purposes, capacity expansion and balance sheet optimization. The transaction is expected to close on or about August 15, 2013.

The securities will be issued in a private placement to accredited and other qualified investors in the United States and internationally in reliance upon available exemptions from the registration requirements of the U.S. Securities Act of 1933, including Section 4(2) thereof and Regulation D and Regulation S thereunder, as well as comparable exemptions under applicable state and foreign securities laws. The securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from such registration requirements. Pursuant to the terms of the subscription agreements, the Company plans to file a registration statement with the Securities and Exchange Commission following the closing of the transaction to register the shares and shares underlying the warrants for resale. The Company engaged a placement agent outside the United States to facilitate the offering to non-US investors. The placement agent is entitled to a cash fee based upon the percentage of the gross proceeds raised from non-US investors introduced by the placement agent, as well as shares and warrants on the same terms as the investors in the offering.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs