July 22, 2009 8:30 AM ET
Wave Announces Additional $1,648,400 Stock Offering
Lee, MA — (Marketwire - July 22, 2009) — Wave Systems Corp. (NASDAQ: WAVX), a leading developer of trusted computing solutions and services, announced that it is selling to investors 1,791,738 shares of its Class A common stock at a price of $0.92 per share, yielding gross proceeds of $1,648,400. Investors in the offering will also receive warrants to purchase an aggregate of 895,868 shares of Wave’s Class A common stock for $1.155 per share. The warrants will be exercisable for a five-year period beginning on the sixth-month anniversary of the date of issuance. The net proceeds of the financing will be used to fund Wave’s ongoing operations. This transaction is in addition to, and pursuant to the same terms as, the $3,172,199 transaction announced by Wave on July 17, 2009. The total amount being raised in the two transactions is $4,820,599.
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