Document Security Systems (DMC) Receives $4M Investment from Fletcher Asset Management
Document Security Systems, Inc. (AMEX: DMC) announced that they have sold $4 million of stock to Fletcher Asset Management, Inc.
Under the agreement, Fletcher received the right to make an additional equity investment of up to $4 million during the early part of 2011, and certain warrants that may be exercised for a certain number of years. The full potential share purchase, together with the warrants, if exercised in their entirety for cash, could total $16 million at prices ranging between approximately $4.76 and $7.62 per share, subject to adjustment as provided in the transaction documents.
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Under the agreement, Fletcher received the right to make an additional equity investment of up to $4 million during the early part of 2011, and certain warrants that may be exercised for a certain number of years. The full potential share purchase, together with the warrants, if exercised in their entirety for cash, could total $16 million at prices ranging between approximately $4.76 and $7.62 per share, subject to adjustment as provided in the transaction documents.
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