I have been told by someone close to the copmpany thqat 4 separate co's are looking to take an equity stake in VDAT. The names have been floated on Yahoo thread. The front burner negotiations could be completed within days to a few weeks. Good luck to us all, things are getting ready to move. I would expect some more news content related prior to any deals.
In February 1999 the Company completed a private placement of its common stockto institutional investors. Net proceeds of approximately $2,600,000 wasreceived in exchange for 333,334 shares. These investors were granted piggybackregistration rights. In connection with the offering, the placement agentreceived 8,334 one year warrants with an exercise price of $14.063. Pursuant tothe terms contained in an investment banking agreement executed in November1998, they also received a total of 105,000 five year warrants exercisable at prices ranging from $2.00 to $3.00.
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edgar-online.com
COMPANY: BUYERS:
VISUAL DATA CORPORATION CRANSHIRE CAPITAL, L.P.
By: Downsview Capital, Incorporated,
the General Partner
By:--------------------------
Name:------------------------ By: /s/ Mitchell Kopin
Title:----------------------- ---------------------------
Name: Mitchell Kopin
Title: President
GILFORD PARTNERS, L.P.
By:
-------------------------------
the General Partner
By: /s/ H. Robert Holmes
---------------------------
Name: H. Robert Holmes
Title:
21
SCHEDULE 1: LIST OF INVESTORS
Number of
Investor Address Common Investor's Legal Representatives'
Investor's Name and Facsimile Number Shares Address and Facsimile Number
--------------------------------- -------------------------------------- ------------- ------------------------------------
Cranshire Capital, L.P. 770 Frontage Rd., Ste. 134 83,334 Katten Muchin & Zavis
Northfield, IL 60093 525 W. Monroe Street
Attn: Mitchell Kopin Chicago, Illinois 60661-3693
(p) 847/784-1544 Attention: Anthony J. Ribaudo, Esq.
(f) 847/784-1546 (p) 312/ 902-5521
(f) 312/ 577-8763
Gilford Partners, L.P. 2022 N. Mohawk 27,778 Cherry & Flynn
Chicago, IL 60614 30 N. LaSalle, Ste. 2300
Attn: Robert Holmes Chicago, IL 60602
(p) 312/786-2071 Attn: Mike Cherry
(f) 312/664-3581 (p) 312/372-2100
(f) 312/853-0279
EXHIBITS
Exhibit A Form of Registration Rights Agreement
Exhibit B Form of Transfer Agent Instructions
Exhibit C Form of Company Counsel Opinion
23
REGISTRATION RIGHTS AGREEMENT
This REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated as ofFebruary 9, 1999, is entered into by and among Visual Data Corporation, aFlorida corporation, with headquarters located at 1291 S.W. 29th Avenue, PompanoBeach, Florida 33069 (the "Company"), and the undersigned buyers (each, a"Buyer" and collectively, the "Buyers"). |
