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

DecisionPoint Systems Announces Completion Of $3.8 Million Convertible Preferred Stock Financing

IRVINE, Calif., Nov. 15, 2013 /PRNewswire/ -- DecisionPoint™ Systems, Inc. (OTCQB: DPSI), a leading provider and integrator of Enterprise Mobility, Wireless Applications and RFID solutions, announced that it has raised $3.83 million in gross proceeds from institutional and accredited investors through a private placement of 383,000 shares of 10 percent Series E convertible preferred stock, with a stated value of $10.00 per share. Each share of preferred stock may be converted into common stock at any time at the option of the holder. The current conversion price is $0.50 per common share, which means that each share of preferred stock may be converted into 20 shares of common stock.  The conversion price is subject to adjustment in the event that additional shares of capital stock are issued at a price per share of less than $0.50 (subject to certain carve-outs and other adjustments). After deducting the placement agent's commission, the company received net proceeds of approximately $3.5 million.

The proceeds will be used for general corporate purposes.

As part of this transaction, Mr. Robert Schroeder, Vice President Investment Banking of Taglich Brothers, will join the Company's Board of Directors. 

Taglich Brothers, Inc. served as the exclusive placement agent. For more details, please see the current report on Form 8-K to be filed by DecisionPoint Systems on or about November 18, 2013. The law firm of Sichenzia Ross Friedman Ference LLP ( represented DecisionPoint in the transaction.

"This financing will bolster our balance sheet and broaden our shareholder base to meet minimum standards for listing our common stock on a nationally recognized exchange, one of our strategic goals," said Nicholas Toms, Chief Executive Officer of DecisionPoint.

The securities sold by DecisionPoint in the private placement were not registered under the Securities Act of 1933, as amended (the "Securities Act"), and were sold in reliance upon exemptions from the registration requirements of the Securities Act pursuant to Regulation D promulgated under the Securities Act. Therefore, such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell any securities or a solicitation of an offer to purchase any securities

About Taglich Brothers Founded in 1991, Taglich Brothers, Inc. is a full service brokerage firm specializing in the microcap segment of the market for publicly traded securities. The firm has selected this unique niche for two reasons. First and foremost, the small cap market has historically outperformed the large cap market over the past 75 years. Second, this area of the market is virtually ignored by the larger institutions and other Wall Street firms because they cannot invest enough capital in each situation to justify the expense of investigating these companies.

About DecisionPoint™ Systems, Inc. DecisionPoint Systems, Inc. empowers the mobile workforce to enhance customer satisfaction and accelerate business growth. They accomplish this by making enterprise software applications accessible to the front-line mobile worker anytime, anywhere. DecisionPoint combines its industry leading software products, application development capabilities, deployment and support services with the latest wireless, and mobile technologies.

For more information on DecisionPoint Systems visit

Forward Looking Statements Under The Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectation.

Company Contacts:

DecisionPoint Nicholas R. Toms Chief Executive Officer(973) 489-1425

Taglich Brothers, Inc. Robert Schroeder 661-6886

Allen & Caron, Inc. Rudy Barrio (investors) 691-8087

Len Hall (media) 474-4300

SOURCE DecisionPoint Systems, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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 16,886.70 +96.51 0.57%
S&P 500 1,991.62 +11.70 0.59%
NASDAQ 4,782.3670 +34.0060 0.72%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs