By Sheri Kasprzak
New York, April 5 - Zix Corp. said it has received definitive agreements for an $11,816,700 private placement.
The investors agreed to buy 9.93 million units at $1.19 each.
The units are comprised of one share and one warrant for 0.6 of a share. The whole warrants are exercisable at $1.54 each for 66 months.
The investors include RAQ, LLC; Conor O'Driscoll; Diamond Opportunity Fund, LLC; Enable Growth Partners LP; Enable Opportunity Partners LP; Pierce Diversified Strategy Master Fund LLC; SRB Greenway Capital, LP; SRB Greenway Capital (QP), LP; SRB Greenway Offshore Operating Fund, LP; H&Q Life Sciences Investors; Iroquois Master Fund Ltd.; Alice Ann Corp.; Robert. G. Allison; William H. Baxter Revocable Trust; Gary A. Bergren; Piper Jaffray as Custodian FBO Bradley A Erickson IRA; Piper Jaffray as Custodian FBO Robert H. Clayburgh IRA; Piper Jaffray as Custodian FBO Daniel L. Lastavich IRA; Piper Jaffray as Custodian James B. Wallace SPN/PRO; Richard C. Perkins; Richard A. Hoel; Shawn P. Weinand; Castlerigg Master Investments Ltd.; SF Capital Partners Ltd.; Valesco Healthcare Partners II LP; Valesco Healthcare Partners I LP; Valesco Healthcare Overseas Fund, Ltd.; and Con Egan.
The deal was slated to close Wednesday.
Proceeds will be used for working capital and general corporate purposes.
The offering will trigger an anti-dilution feature in the company's $5 million convertible note held by Amulet Ltd.
Dallas-based Zix produces electronic communications services that deliver secured information to corporations.
| Issuer: | Zix Corp.
|
| Issue: | Units of one share and one warrant for 0.6 of a share
|
| Amount: | $11,816,700
|
| Units: | 9.93 million
|
| Price: | $1.19
|
| Warrants: | For 0.6 of a share per unit
|
| Warrant expiration: | 66 months
|
| Warrant strike price: | $1.54
|
| Investors: | RAQ, LLC; Conor O'Driscoll; Diamond Opportunity Fund, LLC; Enable Growth Partners LP; Enable Opportunity Partners LP; Pierce Diversified Strategy Master Fund LLC; SRB Greenway Capital, LP; SRB Greenway Capital (QP), LP; SRB Greenway Offshore Operating Fund, LP; H&Q Life Sciences Investors; Iroquois Master Fund Ltd.; Alice Ann Corp.; Robert. G. Allison; William H. Baxter Revocable Trust; Gary A. Bergren; Piper Jaffray as Custodian FBO Bradley A Erickson IRA; Piper Jaffray as Custodian FBO Robert H. Clayburgh IRA; Piper Jaffray as Custodian FBO Daniel L. Lastavich IRA; Piper Jaffray as Custodian James B. Wallace SPN/PRO; Richard C. Perkins; Richard A. Hoel; Shawn P. Weinand; Castlerigg Master Investments Ltd.; SF Capital Partners Ltd.; Valesco Healthcare Partners II LP; Valesco Healthcare Partners I LP; Valesco Healthcare Overseas Fund, Ltd.; and Con Egan
|
| Settlement date: | April 5
|
| Stock symbol: | Nasdaq: ZIXI
|
| Stock price: | $1.30 at close April 4
|
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