News out this morning: Suddenly, RACE is worth $22 million? Hmmmm..
DATA RACE Announces Completion of Series C Preferred Stock Conversions
July 22, 1998 06:58 AM
SAN ANTONIO, July 22 /PRNewswire/ -- DATA RACE RACE announced today that, as of July 17, 1998, the holders of the Company's Series C Convertible Participating Preferred Stock have completed their conversions into common stock. The $5 million placement closed during November 1997; during the subsequent period, the Series Convertible Participating Preferred Stock was converted into 6,574,000 shares of the Company's common stock. The Company currently has approximately 14,400,000 shares of common stock outstanding.
The Company also announced that it has retained Liviakis Financial Communications, Inc., based in Sacramento, California, to assist the Company in matters concerning investor relations. |
