Company offers 74,892 common shares at about $8.36 per share in deal
By Devika Patel
Knoxville, Tenn., Dec. 31 – Sonic Foundry, Inc. raised about $626,100 in a private placement of stock with its directors and officers on Dec. 22, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 74,892 common shares. The purchase price, of about $8.36 per share, is a 10.29% premium to the closing share price on Dec. 19, $7.58, and is also the 20-day average closing price, the company said in the 8-K.
Mark D. Burish bought 35,905 shares for about $300,165, and Andrew D. Burish bought 38,987 shares for about $325,930.
The Madison, Wis., company provides video content management and distribution for education, business and government.
| Issuer: | Sonic Foundry, Inc.
|
| Issue: | Common stock
|
| Amount: | $626,100
|
| Shares: | 74,892
|
| Price: | $8.36 (approximate)
|
| Warrants: | No
|
| Investors: | Mark D. Burish (for about $300,165) and Andrew D. Burish (for about $325,930)
|
| Settlement date: | Dec. 22
|
| Stock symbol: | Nasdaq: SOFO
|
| Stock price: | $7.58 at close Dec. 19
|
| Market capitalization: | $33.84 million
|
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