SPACEHAB (SPAB) to Buy 1.33 Million Shares from Lanphier Capital and Trace Partners
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SPACEHAB Incorporated, (NASDAQ: SPAB) has entered into a Securities Purchase Agreement with Lanphier Capital Management, Inc. and Trace Partners, L.P. for the purchase of 1,329,786 shares of the Company's common stock for an aggregate purchase price of $625,000. The Company will use the proceeds for general corporate purposes.
The consummation of the transaction under the Securities Purchase Agreement is contingent upon certain customary conditions precedent to each party's obligation to close. The 1,329,786 shares of common stock to be issued under the Securities Purchase Agreement were sold in reliance on the exemption from registration pursuant to Rule 506 of Regulation D promulgated by the Commission pursuant to the Securities Act of 1933. The Company anticipates that the transaction will close by June 13, 2008.[SM]
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