By Sheri Kasprzak
Atlanta, Jan. 21 - Trestle Holdings Inc. completed the final $2.55 million tranche of a private placement, lifting the overall amount raised to $4.55 million
In the final tranche, the company sold 1,457,142 units at $1.75 each to accredited and institutional investors for $2.55 million. The units include one share and one three-quarters share warrant.
The whole warrants allow for an additional share at $1.75 each.
On Dec. 27, the company announced it planned to raise $3.5 million in the offering and closed the first tranche for $2 million. The entire private placement consisted of 2.6 million units.
Trestle, based in Irvine, Calif., develops and sells digital imaging and telemedicine applications to life sciences companies. The proceeds from the private placement will be used for working capital, including the proposed acquisition of Interscope Technologies.
| Issuer: | Trestle Holdings Inc.
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| Issue: | Units of one share and one three-fourths share warrant
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| Amount: | $2.55 million
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| Units: | 1,457,142
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| Price: | $1.75
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| Warrants: | One three-quarters share warrant per unit
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| Warrant strike price: | $1.75
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| Settlement date: | Jan. 21
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| Stock price: | $2.35 at close Jan. 21
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